Epoch Investment Partners Inc. Decreases Position in Eastman Chemical (EMN)

Epoch Investment Partners Inc. cut its holdings in shares of Eastman Chemical (NYSE:EMN) by 10.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 529,663 shares of the basic materials company’s stock after selling 64,779 shares during the period. Epoch Investment Partners Inc. owned about 0.38% of Eastman Chemical worth $50,700,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Massachusetts Financial Services Co. MA grew its stake in Eastman Chemical by 108.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,783,518 shares of the basic materials company’s stock valued at $170,718,000 after acquiring an additional 926,293 shares in the last quarter. Morgan Stanley grew its stake in Eastman Chemical by 158.3% during the 2nd quarter. Morgan Stanley now owns 1,215,942 shares of the basic materials company’s stock valued at $121,546,000 after acquiring an additional 745,156 shares in the last quarter. LSV Asset Management grew its stake in Eastman Chemical by 9.4% during the 3rd quarter. LSV Asset Management now owns 5,504,697 shares of the basic materials company’s stock valued at $526,909,000 after acquiring an additional 471,527 shares in the last quarter. Janus Henderson Group PLC grew its stake in Eastman Chemical by 809.1% during the 2nd quarter. Janus Henderson Group PLC now owns 430,650 shares of the basic materials company’s stock valued at $43,048,000 after acquiring an additional 383,279 shares in the last quarter. Finally, Canada Pension Plan Investment Board grew its stake in Eastman Chemical by 146.7% during the 3rd quarter. Canada Pension Plan Investment Board now owns 564,850 shares of the basic materials company’s stock valued at $54,067,000 after acquiring an additional 335,897 shares in the last quarter. Institutional investors own 82.53% of the company’s stock.

Eastman Chemical stock opened at $75.73 on Friday. Eastman Chemical has a 1-year low of $73.95 and a 1-year high of $112.45. The company has a debt-to-equity ratio of 0.98, a current ratio of 1.69 and a quick ratio of 0.94. The company has a market capitalization of $10.88 billion, a PE ratio of 9.95, a PEG ratio of 1.06 and a beta of 1.28.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, October 25th. The basic materials company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. Eastman Chemical had a net margin of 16.05% and a return on equity of 21.18%. The business had revenue of $2.55 billion during the quarter, compared to analysts’ expectations of $2.53 billion. As a group, equities analysts forecast that Eastman Chemical will post 8.43 earnings per share for the current fiscal year.

Several brokerages recently issued reports on EMN. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a research note on Wednesday, October 3rd. JPMorgan Chase & Co. cut shares of Eastman Chemical from an “overweight” rating to a “neutral” rating in a research note on Friday, October 5th. ValuEngine cut shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research note on Saturday, October 6th. SunTrust Banks increased their price target on shares of Eastman Chemical to $88.00 and gave the company a “hold” rating in a research note on Monday, November 19th. Finally, Nomura dropped their price target on shares of Eastman Chemical from $111.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the company’s stock. Eastman Chemical currently has a consensus rating of “Hold” and a consensus target price of $99.50.

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Eastman Chemical Company Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic 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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