LPL Financial LLC grew its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 224,805 shares of the basic materials company's stock after buying an additional 34,755 shares during the quarter. LPL Financial LLC owned approximately 0.19% of Eastman Chemical worth $19,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also made changes to their positions in the company. Beverly Hills Private Wealth LLC lifted its position in shares of Eastman Chemical by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company's stock worth $291,000 after buying an additional 143 shares during the last quarter. Prudent Man Advisors LLC boosted its position in Eastman Chemical by 2.2% during the first quarter. Prudent Man Advisors LLC now owns 6,651 shares of the basic materials company's stock worth $586,000 after purchasing an additional 144 shares during the period. Burney Co. grew its holdings in Eastman Chemical by 0.9% during the first quarter. Burney Co. now owns 18,083 shares of the basic materials company's stock valued at $1,593,000 after purchasing an additional 154 shares during the last quarter. Roman Butler Fullerton & Co. lifted its stake in shares of Eastman Chemical by 6.1% in the first quarter. Roman Butler Fullerton & Co. now owns 2,864 shares of the basic materials company's stock worth $252,000 after buying an additional 164 shares during the last quarter. Finally, Goelzer Investment Management Inc. grew its stake in Eastman Chemical by 0.5% in the 1st quarter. Goelzer Investment Management Inc. now owns 36,505 shares of the basic materials company's stock valued at $3,216,000 after buying an additional 164 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.
Eastman Chemical Stock Down 0.7%
Shares of EMN traded down $0.44 during midday trading on Wednesday, hitting $60.95. The stock had a trading volume of 1,617,184 shares, compared to its average volume of 1,568,467. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.79. The firm has a market cap of $7.00 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 1.75 and a beta of 1.21. The company has a 50 day simple moving average of $76.90 and a two-hundred day simple moving average of $84.09. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50.
Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.12). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period last year, the firm earned $2.15 earnings per share. On average, analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.
Wall Street Analysts Forecast Growth
Several analysts recently weighed in on EMN shares. JPMorgan Chase & Co. restated a "neutral" rating and set a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a research note on Monday. Mizuho dropped their price objective on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. The Goldman Sachs Group reduced their price objective on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Wall Street Zen lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $88.69.
Read Our Latest Research Report on EMN
Eastman Chemical Profile
(
Free Report)
Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.
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