Metropolitan Life Insurance Co NY Sells 203 Shares of Eastman Chemical (NYSE:EMN)

Metropolitan Life Insurance Co NY cut its position in Eastman Chemical (NYSE:EMN) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,536 shares of the basic materials company’s stock after selling 203 shares during the period. Metropolitan Life Insurance Co NY’s holdings in Eastman Chemical were worth $1,516,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Motco bought a new position in Eastman Chemical in the second quarter worth approximately $31,000. Advantage Investment Management LLC raised its position in shares of Eastman Chemical by 451.6% during the third quarter. Advantage Investment Management LLC now owns 513 shares of the basic materials company’s stock worth $38,000 after purchasing an additional 420 shares during the period. Berman Capital Advisors LLC raised its position in shares of Eastman Chemical by 28.6% during the second 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. CSat Investment Advisory L.P. raised its position in shares of Eastman Chemical by 97.0% during the second quarter. CSat Investment Advisory L.P. now owns 652 shares of the basic materials company’s stock worth $50,000 after purchasing an additional 321 shares during the period. Finally, Northwest Investment Counselors LLC bought a new position in shares of Eastman Chemical in the 3rd quarter worth $52,000. Institutional investors own 79.78% of the company’s stock.

Shares of NYSE:EMN opened at $75.69 on Friday. The business’s 50 day moving average is $77.95 and its 200 day moving average is $73.27. Eastman Chemical has a 12-month low of $61.22 and a 12-month high of $86.18. The stock has a market cap of $10.66 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 1.54 and a beta of 1.39. The company has a quick ratio of 0.84, a current ratio of 1.65 and a debt-to-equity ratio of 0.91.

Eastman Chemical (NYSE:EMN) last released its quarterly 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 company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the company posted $2.34 earnings per share. The company’s quarterly revenue was down 8.7% compared to the same quarter last year. As a group, equities research analysts expect that Eastman Chemical will post 7.11 earnings per share for the current year.

Several analysts recently issued reports on EMN shares. SunTrust Banks lifted their price target on shares of Eastman Chemical to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Bank of America began coverage on shares of Eastman Chemical in a report on Thursday, September 26th. They set a “buy” rating and a $84.00 price objective on the stock. UBS Group set a $89.00 price objective on shares of Eastman Chemical and gave the stock a “buy” rating in a report on Friday, October 25th. ValuEngine raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research cut shares of Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 price objective for the company. in a report on Tuesday, October 1st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the company. The company has an average rating of “Buy” and an average target price of $84.64.

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.

Further Reading: Market Timing

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

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