Eastman Chemical (NYSE:EMN) Position Cut by First National Bank of Omaha

First National Bank of Omaha trimmed its stake in Eastman Chemical (NYSE:EMN) by 9.5% during the third quarter, according to its most recent disclosure with the SEC. The fund owned 5,364 shares of the basic materials company’s stock after selling 564 shares during the quarter. First National Bank of Omaha’s holdings in Eastman Chemical were worth $396,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of EMN. Motco acquired a new position in Eastman Chemical during the second quarter worth about $31,000. Advantage Investment Management LLC grew its holdings in Eastman Chemical by 451.6% during the third quarter. Advantage Investment Management LLC now owns 513 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 420 shares during the period. Berman Capital Advisors LLC grew its holdings in Eastman Chemical by 28.6% during the second quarter. Berman Capital Advisors LLC now owns 639 shares of the basic materials company’s stock worth $49,000 after acquiring an additional 142 shares during the period. CSat Investment Advisory L.P. grew its holdings in Eastman Chemical by 97.0% during the second quarter. CSat Investment Advisory L.P. now owns 652 shares of the basic materials company’s stock worth $50,000 after acquiring an additional 321 shares during the period. Finally, Northwest Investment Counselors LLC acquired a new position in Eastman Chemical during the third quarter worth about $52,000. Institutional investors own 81.01% of the company’s stock.

A number of research analysts recently issued reports on EMN shares. Cowen reaffirmed a “market perform” rating and set a $77.00 target price (down from $83.00) on shares of Eastman Chemical in a report on Monday, August 5th. ValuEngine raised Eastman Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. Zacks Investment Research lowered Eastman Chemical from a “hold” rating to a “sell” rating and set a $78.00 target price on the stock. in a report on Tuesday, October 1st. Tudor Pickering raised Eastman Chemical from a “hold” rating to a “buy” rating and set a $79.00 target price on the stock in a report on Thursday, August 15th. Finally, UBS Group set a $89.00 target price on Eastman Chemical and gave the stock a “buy” rating in a report on Friday, October 25th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $84.47.

Receive News & Ratings Via Email - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings with MarketBeat.com's FREE daily email newsletter.

Shares of EMN opened at $83.90 on Friday. The business’s 50-day moving average price is $74.31 and its 200 day moving average price is $73.13. The stock has a market capitalization of $11.06 billion, a P/E ratio of 10.23, a P/E/G ratio of 1.59 and a beta of 1.40. Eastman Chemical has a 1-year low of $61.22 and a 1-year high of $86.18. The company has a current ratio of 1.65, a quick ratio of 0.80 and a debt-to-equity ratio of 0.91.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.94 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.98 by ($0.04). The company had revenue of $2.33 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a return on equity of 16.58% and a net margin of 8.12%. The company’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period in the prior year, the business posted $2.34 EPS. On average, research analysts predict that Eastman Chemical will post 7.11 earnings per share for the current year.

Eastman Chemical Company Profile

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

Recommended Story: What is a death cross?

Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical (NYSE:EMN).

Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

Leave a Reply

Your email address will not be published. Required fields are marked *

*