Eastman Chemical (EMN) Stake Decreased by HL Financial Services LLC

HL Financial Services LLC cut its position in shares of Eastman Chemical (NYSE:EMN) by 69.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 16,300 shares of the basic materials company’s stock after selling 37,056 shares during the period. HL Financial Services LLC’s holdings in Eastman Chemical were worth $1,560,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. Usca Ria LLC boosted its holdings in Eastman Chemical by 26.3% in the 3rd quarter. Usca Ria LLC now owns 17,739 shares of the basic materials company’s stock valued at $1,698,000 after purchasing an additional 3,693 shares during the period. Tdam USA Inc. boosted its holdings in Eastman Chemical by 3.1% in the 3rd quarter. Tdam USA Inc. now owns 64,276 shares of the basic materials company’s stock valued at $6,217,000 after purchasing an additional 1,940 shares during the period. TD Asset Management Inc. boosted its holdings in Eastman Chemical by 1.0% in the 3rd quarter. TD Asset Management Inc. now owns 835,362 shares of the basic materials company’s stock valued at $79,961,000 after purchasing an additional 8,051 shares during the period. Victory Capital Management Inc. boosted its holdings in Eastman Chemical by 6.3% in the 3rd quarter. Victory Capital Management Inc. now owns 2,216,992 shares of the basic materials company’s stock valued at $212,211,000 after purchasing an additional 131,152 shares during the period. Finally, Nippon Life Global Investors Americas Inc. boosted its holdings in Eastman Chemical by 61.5% in the 3rd quarter. Nippon Life Global Investors Americas Inc. now owns 28,940 shares of the basic materials company’s stock valued at $2,771,000 after purchasing an additional 11,020 shares during the period. Institutional investors own 83.44% of the company’s stock.

Shares of Eastman Chemical stock opened at $82.82 on Friday. Eastman Chemical has a 1-year low of $73.95 and a 1-year high of $112.45. The company has a quick ratio of 0.94, a current ratio of 1.69 and a debt-to-equity ratio of 0.98. The company has a market cap of $11.79 billion, a PE ratio of 10.01, a PEG ratio of 1.15 and a beta of 1.26.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 25th. The basic materials company reported $2.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.05. Eastman Chemical had a net margin of 16.05% and a return on equity of 21.18%. The company had revenue of $2.55 billion during the quarter, compared to the consensus estimate of $2.53 billion. On average, research analysts forecast that Eastman Chemical will post 8.43 earnings per share for the current year.

A number of analysts have issued reports on EMN shares. KeyCorp cut their price objective on shares of Eastman Chemical from $122.00 to $110.00 and set an “overweight” rating for the company in a report on Monday, October 29th. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $109.00 price objective for the company in a report on Wednesday, October 3rd. JPMorgan Chase & Co. raised shares of Eastman Chemical from a “neutral” rating to an “overweight” rating in a report on Friday, October 12th. Citigroup cut their price objective on shares of Eastman Chemical from $108.00 to $94.00 and set a “neutral” rating for the company in a report on Thursday, October 11th. Finally, Nomura cut their price objective on shares of Eastman Chemical from $111.00 to $99.00 and set a “neutral” rating for the company in a report on Monday, October 15th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and five have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $99.00.

ILLEGAL ACTIVITY NOTICE: This piece of content was originally posted by American Banking News and is the sole property of of American Banking News. If you are reading this piece of content on another site, it was illegally stolen and reposted in violation of US & international copyright & trademark legislation. The original version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/11/10/eastman-chemical-emn-stake-decreased-by-hl-financial-services-llc.html.

Eastman Chemical Company Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

Featured Story: What is Compound Annual Growth Rate (CAGR)?

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

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

Leave a Reply