Eastman Chemical (NYSE:EMN) Shares Acquired by Gyroscope Capital Management Group LLC

Gyroscope Capital Management Group LLC lifted its position in shares of Eastman Chemical (NYSE:EMN) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 10,488 shares of the basic materials company’s stock after buying an additional 264 shares during the quarter. Gyroscope Capital Management Group LLC’s holdings in Eastman Chemical were worth $743,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EMN. Motco acquired a new position in shares of Eastman Chemical during the 2nd quarter worth $31,000. Advantage Investment Management LLC raised its stake in Eastman Chemical by 451.6% in the 3rd quarter. Advantage Investment Management LLC now owns 513 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 420 shares during the last quarter. Berman Capital Advisors LLC raised its stake in Eastman Chemical by 28.6% in the 2nd quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock valued at $49,000 after purchasing an additional 142 shares during the last quarter. CSat Investment Advisory L.P. raised its stake in Eastman Chemical by 97.0% in the 2nd quarter. CSat Investment Advisory L.P. now owns 652 shares of the basic materials company’s stock valued at $50,000 after purchasing an additional 321 shares during the last quarter. Finally, SevenBridge Financial Group LLC raised its stake in Eastman Chemical by 62.6% in the 2nd quarter. SevenBridge Financial Group LLC now owns 709 shares of the basic materials company’s stock valued at $55,000 after purchasing an additional 273 shares during the last quarter. 80.94% of the stock is owned by institutional investors and hedge funds.

EMN traded up $3.28 during midday trading on Friday, hitting $73.07. The company’s stock had a trading volume of 494,023 shares, compared to its average volume of 1,069,715. The company has a current ratio of 1.58, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The firm has a market cap of $9.40 billion, a P/E ratio of 8.91, a PEG ratio of 1.03 and a beta of 1.39. The firm has a 50-day moving average price of $69.45 and a two-hundred day moving average price of $73.71. Eastman Chemical has a 52-week low of $61.22 and a 52-week high of $86.18.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.99 EPS for the quarter, missing the consensus estimate of $2.09 by ($0.10). The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.55 billion. Eastman Chemical had a net margin of 9.45% and a return on equity of 17.76%. The firm’s quarterly revenue was down 9.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.22 EPS. On average, equities analysts expect that Eastman Chemical will post 7.64 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 4th. Shareholders of record on Monday, September 16th were issued a $0.62 dividend. This represents a $2.48 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend was Friday, September 13th. Eastman Chemical’s dividend payout ratio (DPR) is 30.24%.

Several research analysts recently weighed in on EMN shares. Nomura cut their target price on shares of Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, July 29th. ValuEngine raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 target price for the company. in a research note on Tuesday, October 1st. Bank of America started coverage on shares of Eastman Chemical in a research note on Thursday, September 26th. They issued a “buy” rating and a $84.00 target price for the company. Finally, Citigroup set a $78.00 target price on shares of Eastman Chemical and gave the company a “hold” rating in a research note on Monday, July 15th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $84.29.

Eastman Chemical Profile

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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