Dupont Capital Management Corp grew its holdings in shares of Eastman Chemical (NYSE:EMN) by 3.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,299 shares of the basic materials company’s stock after purchasing an additional 514 shares during the period. Dupont Capital Management Corp’s holdings in Eastman Chemical were worth $1,119,000 as of its most recent SEC filing.
Several other large investors have also modified their holdings of EMN. Moody National Bank Trust Division acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $29,000. Proffitt & Goodson Inc. acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $36,000. Ipswich Investment Management Co. Inc. acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $67,000. Clean Yield Group acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $72,000. Finally, Edge Wealth Management LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $73,000. 85.03% of the stock is currently owned by institutional investors.
EMN stock opened at $79.36 on Tuesday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.94 and a current ratio of 1.69. Eastman Chemical has a fifty-two week low of $67.40 and a fifty-two week high of $112.45. The stock has a market capitalization of $11.08 billion, a P/E ratio of 9.68, a PEG ratio of 1.04 and a beta of 1.20.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.39 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.60 by ($0.21). Eastman Chemical had a return on equity of 20.22% and a net margin of 10.64%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.42 billion. As a group, research analysts forecast that Eastman Chemical will post 8.76 earnings per share for the current fiscal year.
In other news, Director David W. Raisbeck acquired 13,500 shares of the company’s stock in a transaction that occurred on Friday, December 7th. The shares were acquired at an average price of $73.21 per share, with a total value of $988,335.00. Following the acquisition, the director now directly owns 35,418 shares in the company, valued at $2,592,951.78. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 1.18% of the stock is owned by company insiders.
A number of brokerages have weighed in on EMN. Zacks Investment Research cut shares of Eastman Chemical from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Cowen cut shares of Eastman Chemical from an “outperform” rating to a “market perform” rating and dropped their target price for the stock from $94.00 to $88.00 in a report on Wednesday, February 6th. Citigroup dropped their target price on shares of Eastman Chemical from $94.00 to $86.00 and set a “neutral” rating on the stock in a report on Monday, October 29th. ValuEngine raised shares of Eastman Chemical from a “strong sell” rating to a “sell” rating in a report on Thursday, December 13th. Finally, SunTrust Banks increased their target price on shares of Eastman Chemical to $88.00 and gave the stock a “hold” rating in a report on Monday, November 19th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $94.91.
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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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