Strategic Wealth Partners Ltd. Sells 937 Shares of Eastman Chemical (NYSE:EMN)

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Strategic Wealth Partners Ltd. trimmed its stake in Eastman Chemical (NYSE:EMN) by 41.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,306 shares of the basic materials company’s stock after selling 937 shares during the period. Strategic Wealth Partners Ltd.’s holdings in Eastman Chemical were worth $101,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in EMN. CWM Advisors LLC grew its holdings in shares of Eastman Chemical by 8.1% during the second quarter. CWM Advisors LLC now owns 6,422 shares of the basic materials company’s stock worth $500,000 after purchasing an additional 480 shares during the last quarter. IFM Investors Pty Ltd grew its holdings in shares of Eastman Chemical by 28.8% during the second quarter. IFM Investors Pty Ltd now owns 11,131 shares of the basic materials company’s stock worth $866,000 after purchasing an additional 2,490 shares during the last quarter. Davy Asset Management Ltd bought a new stake in shares of Eastman Chemical during the second quarter worth $2,136,000. Alpha Windward LLC grew its holdings in shares of Eastman Chemical by 12.9% during the second quarter. Alpha Windward LLC now owns 6,653 shares of the basic materials company’s stock worth $513,000 after purchasing an additional 758 shares during the last quarter. Finally, Norinchukin Bank The grew its holdings in shares of Eastman Chemical by 3.3% during the first quarter. Norinchukin Bank The now owns 26,500 shares of the basic materials company’s stock worth $2,011,000 after purchasing an additional 845 shares during the last quarter. Hedge funds and other institutional investors own 81.66% of the company’s stock.

Shares of EMN traded down $3.17 during trading hours on Friday, hitting $61.83. 839,251 shares of the stock traded hands, compared to its average volume of 1,284,727. The company has a current ratio of 1.58, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Eastman Chemical has a 1-year low of $61.54 and a 1-year high of $100.52. The firm has a market capitalization of $8.90 billion, a PE ratio of 7.54, a price-to-earnings-growth ratio of 0.97 and a beta of 1.33. The business has a fifty day moving average of $72.76 and a 200-day moving average of $76.41.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 25th. The basic materials company reported $1.99 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.09 by ($0.10). Eastman Chemical had a net margin of 9.45% and a return on equity of 17.76%. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.55 billion. During the same period last year, the company earned $2.22 EPS. The company’s revenue was down 9.8% compared to the same quarter last year. As a group, equities research analysts expect that Eastman Chemical will post 7.66 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 4th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.62 per share. This represents a $2.48 annualized dividend and a dividend yield of 4.01%. The ex-dividend date is Friday, September 13th. Eastman Chemical’s dividend payout ratio (DPR) is presently 30.24%.

Several analysts have recently commented on EMN shares. Tudor Pickering upgraded 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. Citigroup set a $78.00 target price on Eastman Chemical and gave the stock a “hold” rating in a report on Monday, July 15th. Nomura decreased their target price on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, July 29th. SunTrust Banks set a $80.00 target price on Eastman Chemical and gave the stock a “hold” rating in a report on Monday, July 15th. Finally, JPMorgan Chase & Co. cut Eastman Chemical from an “overweight” rating to a “neutral” rating and decreased their target price for the stock from $88.00 to $80.00 in a report on Monday, July 29th. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $85.38.

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.

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

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