Eastman Chemical (NYSE:EMN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of Eastman Chemical (NYSE:EMN) by 0.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 114,386 shares of the basic materials company’s stock after selling 517 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eastman Chemical were worth $9,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC raised its holdings in Eastman Chemical by 5.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,697 shares of the basic materials company’s stock valued at $213,000 after acquiring an additional 133 shares in the last quarter. Butensky & Cohen Financial Security Inc. raised its holdings in Eastman Chemical by 0.5% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 32,333 shares of the basic materials company’s stock valued at $2,563,000 after acquiring an additional 160 shares in the last quarter. FTB Advisors Inc. raised its holdings in Eastman Chemical by 49.5% in the fourth quarter. FTB Advisors Inc. now owns 598 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 198 shares in the last quarter. BLB&B Advisors LLC raised its holdings in Eastman Chemical by 1.9% in the third quarter. BLB&B Advisors LLC now owns 10,560 shares of the basic materials company’s stock valued at $780,000 after acquiring an additional 200 shares in the last quarter. Finally, Cadence Capital Management LLC raised its holdings in Eastman Chemical by 2.8% in the third quarter. Cadence Capital Management LLC now owns 8,021 shares of the basic materials company’s stock valued at $592,000 after acquiring an additional 220 shares in the last quarter. 79.68% of the stock is currently owned by institutional investors and hedge funds.

EMN stock opened at $74.06 on Friday. The company has a current ratio of 1.65, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. Eastman Chemical has a twelve month low of $61.22 and a twelve month high of $86.18. The company’s 50 day moving average is $77.34 and its two-hundred day moving average is $74.47. The stock has a market cap of $10.00 billion, a P/E ratio of 13.44, a PEG ratio of 1.42 and a beta of 1.38.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 24th. The basic materials company reported $1.94 earnings per share for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.04). Eastman Chemical had a return on equity of 16.58% and a net margin of 8.12%. The company had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the business posted $2.34 EPS. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities research analysts predict that Eastman Chemical will post 7.04 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 16th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Friday, December 13th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.62. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.56%. Eastman Chemical’s dividend payout ratio (DPR) is 32.20%.

Several brokerages recently weighed in on EMN. Wells Fargo & Co raised their target price on shares of Eastman Chemical from $84.00 to $85.00 and gave the company an “overweight” rating in a report on Wednesday, January 15th. ValuEngine raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. 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. Bank of America assumed 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. Finally, SunTrust Banks raised their price objective on shares of Eastman Chemical to $80.00 and gave the stock a “hold” rating in a report on Tuesday, October 29th. They noted that the move was a valuation call. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. Eastman Chemical has an average rating of “Hold” and an average price target of $82.83.

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.

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

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