Great West Life Assurance Co. Can Buys 5,437 Shares of Eastman Chemical Company (EMN)

Great West Life Assurance Co. Can raised its stake in shares of Eastman Chemical Company (NYSE:EMN) by 5.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 113,146 shares of the basic materials company’s stock after acquiring an additional 5,437 shares during the quarter. Great West Life Assurance Co. Can owned approximately 0.08% of Eastman Chemical worth $10,164,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in shares of Eastman Chemical by 38.6% during the 2nd quarter. Janus Henderson Group PLC now owns 25,832 shares of the basic materials company’s stock valued at $2,170,000 after buying an additional 7,199 shares during the last quarter. Laurion Capital Management LP increased its stake in shares of Eastman Chemical by 689.5% in the 2nd quarter. Laurion Capital Management LP now owns 87,034 shares of the basic materials company’s stock valued at $7,310,000 after purchasing an additional 76,010 shares in the last quarter. Prudential Financial Inc. boosted its holdings in Eastman Chemical by 3.0% in the 2nd quarter. Prudential Financial Inc. now owns 561,295 shares of the basic materials company’s stock worth $47,143,000 after buying an additional 16,260 shares during the last quarter. Personal Capital Advisors Corp boosted its holdings in Eastman Chemical by 3.1% in the 3rd quarter. Personal Capital Advisors Corp now owns 221,806 shares of the basic materials company’s stock worth $20,071,000 after buying an additional 6,675 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC boosted its holdings in shares of Eastman Chemical by 4.5% during the 2nd quarter. Mark Sheptoff Financial Planning LLC now owns 4,650 shares of the basic materials company’s stock worth $391,000 after purchasing an additional 199 shares during the last quarter. 82.66% of the stock is currently owned by institutional investors and hedge funds.

In other news, SVP Perry Stuckey sold 5,200 shares of the stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total transaction of $479,024.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 1.14% of the stock is currently owned by corporate insiders.

Shares of Eastman Chemical Company (NYSE EMN) traded down $1.27 on Tuesday, hitting $90.13. 212,168 shares of the stock traded hands, 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 firm has a market capitalization of $13,220.69, a P/E ratio of 12.25, a price-to-earnings-growth ratio of 1.57 and a beta of 1.31. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, topping the 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 during the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the prior year, the firm earned $1.86 earnings per share. The business’s quarterly revenue was up 7.8% compared to the same quarter last year. sell-side analysts forecast that Eastman Chemical Company will post 7.13 earnings per share for the current fiscal year.

A number of research firms recently commented on EMN. Tudor Pickering assumed coverage on Eastman Chemical in a report on Tuesday, November 14th. They issued a “hold” rating on the stock. J P Morgan Chase & Co boosted their target price on Eastman Chemical from $95.00 to $105.00 and gave the company an “overweight” rating in a research report on Monday, October 30th. Royal Bank Of Canada reissued a “sector perform” rating and issued a $93.00 target price (up previously from $91.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Wells Fargo & Company reissued an “outperform” rating and issued a $102.00 target price (up previously from $94.00) on shares of Eastman Chemical in a research report on Monday, October 30th. They noted that the move was a valuation call. Finally, KeyCorp reissued a “buy” rating and issued a $108.00 target price (up previously from $100.00) on shares of Eastman Chemical in a research report on Monday, October 30th. Ten analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average target price of $96.00.

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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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