Bank of New York Mellon Corp Takes Position in Eastman Kodak Company $KODK

Key Points

• Bank of New York Mellon initiated a position in Eastman Kodak during the second quarter, purchasing 209,807 shares valued at approximately $1.94 million, or about 0.21% of the company.
• Other institutional investors also increased their Kodak holdings, with hedge funds and institutional investors collectively owning 33.65% of the stock.
• Kodak reported quarterly revenue of $311 million and earnings of $0.13 per share, but remained unprofitable overall. MarketBeat’s analyst consensus is currently “Sell,” despite one analyst upgrading the shares to “Buy.”

Bank of New York Mellon Corp bought a new position in Eastman Kodak Company (NYSE:KODK - Free Report) in the second quarter, according to its most recent filing with the SEC. The firm bought 209,807 shares of the technology company's stock, valued at approximately $1,941,000. Bank of New York Mellon Corp owned approximately 0.21% of Eastman Kodak as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of the stock. AQR Capital Management LLC raised its stake in Eastman Kodak by 8.1% in the 1st quarter. AQR Capital Management LLC now owns 175,313 shares of the technology company's stock worth $1,108,000 after acquiring an additional 13,129 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Eastman Kodak by 4.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 35,992 shares of the technology company's stock valued at $227,000 after purchasing an additional 1,566 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of Eastman Kodak by 4.2% in the first quarter. Empowered Funds LLC now owns 435,379 shares of the technology company's stock valued at $2,752,000 after purchasing an additional 17,621 shares during the period. Creative Planning raised its stake in shares of Eastman Kodak by 3.4% in the second quarter. Creative Planning now owns 52,090 shares of the technology company's stock worth $294,000 after purchasing an additional 1,726 shares during the last quarter. Finally, Rhumbline Advisers lifted its holdings in shares of Eastman Kodak by 3.1% during the second quarter. Rhumbline Advisers now owns 97,705 shares of the technology company's stock worth $552,000 after purchasing an additional 2,927 shares during the period. Hedge funds and other institutional investors own 33.65% of the company's stock.

Eastman Kodak Stock Performance

KODK opened at $9.28 on Wednesday. The firm has a fifty day moving average price of $8.91 and a 200 day moving average price of $9.50. Eastman Kodak Company has a 1 year low of $5.74 and a 1 year high of $14.87. The stock has a market cap of $908.12 million, a P/E ratio of -6.67 and a beta of 1.58. The company has a debt-to-equity ratio of 0.17, a current ratio of 2.91 and a quick ratio of 1.95.

Eastman Kodak (NYSE:KODK - Get Free Report) last released its quarterly earnings data on Tuesday, August 4th. The technology company reported $0.13 earnings per share for the quarter. Eastman Kodak had a negative net margin of 8.28% and a negative return on equity of 14.47%. The company had revenue of $311.00 million during the quarter.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Weiss Ratings upgraded shares of Eastman Kodak from a "sell (d)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Wall Street Zen upgraded shares of Eastman Kodak from a "hold" rating to a "buy" rating in a research note on Saturday, August 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, Eastman Kodak presently has an average rating of "Sell".

About Eastman Kodak

Eastman Kodak Company NYSE: KODK is a global technology firm specializing in imaging, printing and advanced materials. The company offers a wide array of products and services that enable customers to create, manage and share visual content across traditional and digital platforms. Its core offerings include graphic communications solutions, enterprise inkjet systems, packaging technologies, functional printing and micro 3D printing systems.

Kodak's graphic communications segment serves commercial printers, packaging converters and publishing houses with offset plates, digital presses, workflow software and services designed to streamline production.

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