Eastman Chemical Company (NYSE:EMN) Position Maintained by Ingalls & Snyder LLC

Ingalls & Snyder LLC continued to hold its position in shares of Eastman Chemical Company (NYSE:EMN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,618 shares of the basic materials company’s stock at the end of the second quarter. Ingalls & Snyder LLC’s holdings in Eastman Chemical were worth $388,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Jaffetilchin Investment Partners LLC increased its position in shares of Eastman Chemical by 0.7% in the first quarter. Jaffetilchin Investment Partners LLC now owns 5,431 shares of the basic materials company’s stock worth $439,000 after buying an additional 40 shares during the last quarter. Cleararc Capital Inc. increased its position in shares of Eastman Chemical by 1.3% in the first quarter. Cleararc Capital Inc. now owns 3,595 shares of the basic materials company’s stock worth $290,000 after buying an additional 46 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Eastman Chemical by 1.2% in the second quarter. Daiwa Securities Group Inc. now owns 4,150 shares of the basic materials company’s stock worth $349,000 after buying an additional 50 shares during the last quarter. Contravisory Investment Management Inc. increased its position in shares of Eastman Chemical by 1.6% in the second quarter. Contravisory Investment Management Inc. now owns 3,293 shares of the basic materials company’s stock worth $277,000 after buying an additional 52 shares during the last quarter. Finally, James Investment Research Inc. increased its position in shares of Eastman Chemical by 1.4% in the second quarter. James Investment Research Inc. now owns 4,023 shares of the basic materials company’s stock worth $338,000 after buying an additional 55 shares during the last quarter. 88.53% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eastman Chemical Company (EMN) traded up 0.16% during trading on Friday, reaching $82.90. 1,015,352 shares of the company were exchanged. The firm has a market capitalization of $12.01 billion, a P/E ratio of 13.30 and a beta of 1.28. Eastman Chemical Company has a 1-year low of $62.70 and a 1-year high of $86.60. The firm’s 50 day moving average is $84.47 and its 200 day moving average is $81.08.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 27th. The basic materials company reported $1.98 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.09. The business had revenue of $2.42 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 22.54% and a net margin of 10.11%. The company’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter last year, the company earned $1.68 earnings per share. On average, equities analysts anticipate that Eastman Chemical Company will post $7.51 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Friday, September 15th will be issued a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.46%. The ex-dividend date is Thursday, September 14th. Eastman Chemical’s dividend payout ratio is presently 32.28%.

WARNING: “Eastman Chemical Company (NYSE:EMN) Position Maintained by Ingalls & Snyder LLC” was first posted by BNB Daily and is the property of of BNB Daily. If you are accessing this news story on another site, it was stolen and republished in violation of United States and international copyright and trademark legislation. The legal version of this news story can be read at https://www.baseball-news-blog.com/2017/08/19/ingalls-snyder-llc-holds-stake-in-eastman-chemical-company-nyseemn-updated.html.

A number of research analysts have issued reports on the stock. Zacks Investment Research downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, May 19th. UBS AG reissued a “buy” rating and set a $95.00 price objective (up from $90.00) on shares of Eastman Chemical in a research report on Sunday, June 25th. Citigroup Inc. boosted their target price on shares of Eastman Chemical from $81.00 to $89.00 and gave the company a “neutral” rating in a report on Wednesday, July 12th. Cowen and Company boosted their target price on shares of Eastman Chemical from $88.00 to $92.00 and gave the company an “outperform” rating in a report on Monday, August 7th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $85.00 target price on shares of Eastman Chemical in a report on Monday, June 5th. Six research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Eastman Chemical has a consensus rating of “Hold” and a consensus target price of $89.89.

In other Eastman Chemical news, Director Lewis M. Kling sold 4,000 shares of the firm’s stock in a transaction dated Wednesday, May 31st. The stock was sold at an average price of $79.88, for a total value of $319,520.00. Following the completion of the sale, the director now owns 15,693 shares of the company’s stock, valued at $1,253,556.84. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Mark K. Cox sold 1,400 shares of the firm’s stock in a transaction dated Thursday, August 3rd. The stock was sold at an average price of $84.24, for a total value of $117,936.00. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by company insiders.

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)

Receive News & Ratings for Eastman Chemical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Company and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply