Eastman Chemical (NYSE:EMN) Shares Acquired by Tower Research Capital LLC TRC

Tower Research Capital LLC TRC grew its stake in Eastman Chemical (NYSE:EMN) by 1,707.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,146 shares of the basic materials company’s stock after acquiring an additional 5,806 shares during the quarter. Tower Research Capital LLC TRC’s holdings in Eastman Chemical were worth $454,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Berman Capital Advisors LLC grew its holdings in shares of Eastman Chemical by 28.6% during the 2nd quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock worth $49,000 after purchasing an additional 142 shares during the period. Lido Advisors LLC grew its holdings in shares of Eastman Chemical by 2.0% during the 2nd quarter. Lido Advisors LLC now owns 9,221 shares of the basic materials company’s stock worth $723,000 after purchasing an additional 179 shares during the period. BLB&B Advisors LLC grew its holdings in shares of Eastman Chemical by 1.9% during the 3rd quarter. BLB&B Advisors LLC now owns 10,560 shares of the basic materials company’s stock worth $780,000 after purchasing an additional 200 shares during the period. DNB Asset Management AS grew its holdings in shares of Eastman Chemical by 0.8% during the 2nd quarter. DNB Asset Management AS now owns 23,944 shares of the basic materials company’s stock worth $1,864,000 after purchasing an additional 201 shares during the period. Finally, Cadence Capital Management LLC grew its holdings in shares of Eastman Chemical by 2.8% during the 3rd quarter. Cadence Capital Management LLC now owns 8,021 shares of the basic materials company’s stock worth $592,000 after purchasing an additional 220 shares during the period. 81.74% of the stock is owned by institutional investors and hedge funds.

A number of equities analysts have recently weighed in on the company. Nomura lowered their price target on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a report on Monday, July 29th. UBS Group set a $89.00 price target on Eastman Chemical and gave the stock a “buy” rating in a report on Friday, October 25th. Bank of America assumed coverage on Eastman Chemical in a report on Thursday, September 26th. They set a “buy” rating and a $84.00 price target for the company. ValuEngine upgraded Eastman Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Finally, Cowen reiterated a “market perform” rating and set a $77.00 price target (down from $83.00) on shares of Eastman Chemical in a report on Monday, August 5th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $84.47.

Shares of Eastman Chemical stock opened at $79.67 on Monday. The business has a 50-day moving average of $75.43 and a 200 day moving average of $73.12. Eastman Chemical has a 12 month low of $61.22 and a 12 month high of $86.18. The stock has a market capitalization of $10.86 billion, a price-to-earnings ratio of 9.72, a price-to-earnings-growth ratio of 1.56 and a beta of 1.40. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.65 and a quick ratio of 0.84.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.94 EPS for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.04). Eastman Chemical had a net margin of 8.12% and a return on equity of 16.58%. The firm had revenue of $2.33 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter last year, the business earned $2.34 earnings per share. The business’s revenue was down 8.7% compared to the same quarter last year. Equities research analysts anticipate that Eastman Chemical will post 7.11 earnings per share for the current year.

Eastman Chemical Company 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.

See Also: 52-Week High/Low Prices For Stock Selection

Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical (NYSE:EMN).

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

Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.