Eastman Chemical Company (EMN) Shares Sold by Sheaff Brock Investment Advisors LLC

Sheaff Brock Investment Advisors LLC lessened its stake in Eastman Chemical Company (NYSE:EMN) by 36.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 8,259 shares of the basic materials company’s stock after selling 4,640 shares during the quarter. Sheaff Brock Investment Advisors LLC’s holdings in Eastman Chemical were worth $747,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Strs Ohio increased its stake in Eastman Chemical by 12.5% during the 2nd quarter. Strs Ohio now owns 13,417 shares of the basic materials company’s stock worth $1,126,000 after buying an additional 1,490 shares during the period. Municipal Employees Retirement System of Michigan increased its position in shares of Eastman Chemical by 8.9% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 13,130 shares of the basic materials company’s stock worth $1,103,000 after purchasing an additional 1,070 shares during the last quarter. Harbour Capital Advisors LLC increased its position in shares of Eastman Chemical by 2,173.3% in the 2nd quarter. Harbour Capital Advisors LLC now owns 28,053 shares of the basic materials company’s stock worth $334,000 after purchasing an additional 26,819 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Eastman Chemical by 1.2% in the 2nd quarter. Daiwa Securities Group Inc. now owns 4,150 shares of the basic materials company’s stock worth $349,000 after purchasing an additional 50 shares during the last quarter. Finally, Sei Investments Co. increased its position in shares of Eastman Chemical by 43.6% in the 2nd quarter. Sei Investments Co. now owns 40,739 shares of the basic materials company’s stock worth $3,422,000 after purchasing an additional 12,363 shares during the last quarter. Institutional investors own 82.66% of the company’s stock.

Eastman Chemical Company (NYSE:EMN) traded down $1.27 during midday trading on Tuesday, hitting $90.13. 212,168 shares of the company were exchanged, compared to its average volume of 1,149,916. Eastman Chemical Company has a twelve month low of $74.31 and a twelve month high of $94.96. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94. The company has a market cap of $13,220.69, a P/E ratio of 12.25, a P/E/G ratio of 1.57 and a beta of 1.31.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.16. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business had revenue of $2.47 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the previous year, the business earned $1.86 earnings per share. The firm’s revenue was up 7.8% compared to the same quarter last year. analysts forecast that Eastman Chemical Company will post 7.13 EPS for the current year.

Several equities research analysts have recently weighed in on EMN shares. Jefferies Group reissued a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a research report on Tuesday, October 3rd. Deutsche Bank boosted their price objective on shares of Eastman Chemical from $95.00 to $100.00 and gave the company a “buy” rating in a research report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and set a $100.00 target price on shares of Eastman Chemical in a research note on Wednesday, October 4th. Zacks Investment Research lowered shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, J P Morgan Chase & Co boosted their target price on shares of Eastman Chemical from $95.00 to $105.00 and gave the company an “overweight” rating in a research note on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Eastman Chemical presently has an average rating of “Hold” and a consensus target price of $96.00.

In other Eastman Chemical news, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. 1.14% of the stock is currently owned by corporate insiders.

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About Eastman Chemical

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

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

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