Anderson Hoagland & Co. Has $642,000 Stake in Eastman Chemical Company (EMN)
Anderson Hoagland & Co. held its position in shares of Eastman Chemical Company (NYSE:EMN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,643 shares of the basic materials company’s stock at the end of the second quarter. Anderson Hoagland & Co.’s holdings in Eastman Chemical were worth $642,000 at the end of the most recent quarter.
Several other institutional investors have also recently made changes to their positions in EMN. BlackRock Inc. boosted its position in shares of Eastman Chemical by 3,636.5% in the first quarter. BlackRock Inc. now owns 11,468,628 shares of the basic materials company’s stock worth $926,666,000 after buying an additional 11,161,689 shares in the last quarter. Blackstone Group L.P. purchased a new position in shares of Eastman Chemical during the first quarter worth $102,065,000. Vanguard Group Inc. boosted its position in shares of Eastman Chemical by 4.1% in the first quarter. Vanguard Group Inc. now owns 14,087,863 shares of the basic materials company’s stock worth $1,138,298,000 after buying an additional 557,858 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Eastman Chemical by 17.9% in the first quarter. Ameriprise Financial Inc. now owns 2,664,199 shares of the basic materials company’s stock worth $215,277,000 after buying an additional 404,626 shares in the last quarter. Finally, OppenheimerFunds Inc. boosted its position in shares of Eastman Chemical by 20.0% in the first quarter. OppenheimerFunds Inc. now owns 2,402,230 shares of the basic materials company’s stock worth $194,100,000 after buying an additional 400,941 shares in the last quarter. 87.89% of the stock is currently owned by institutional investors.
Shares of Eastman Chemical Company (NYSE:EMN) traded down 0.12% on Friday, reaching $85.58. 211,871 shares of the company were exchanged. The firm has a market capitalization of $12.48 billion, a PE ratio of 14.39 and a beta of 1.29. The company’s 50 day moving average is $83.59 and its 200 day moving average is $80.12. Eastman Chemical Company has a 12-month low of $62.70 and a 12-month high of $86.31.
Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.83 EPS for the quarter, topping the consensus estimate of $1.74 by $0.09. The business had revenue of $2.30 billion for the quarter, compared to analyst estimates of $2.24 billion. Eastman Chemical had a net margin of 9.84% and a return on equity of 22.23%. Analysts forecast that Eastman Chemical Company will post $7.47 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 5th. Shareholders of record on Thursday, June 15th were given a $0.51 dividend. This represents a $2.04 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Tuesday, June 13th. Eastman Chemical’s dividend payout ratio is 33.83%.
EMN has been the topic of a number of recent analyst reports. Citigroup Inc. reissued a “buy” rating and set a $81.00 price target (up from $79.00) on shares of Eastman Chemical in a research report on Friday, April 14th. Zacks Investment Research raised shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $91.00 price objective on the stock in a research report on Monday, April 3rd. Deutsche Bank AG reaffirmed a “buy” rating and issued a $92.00 price objective on shares of Eastman Chemical in a research report on Thursday, May 25th. TheStreet raised shares of Eastman Chemical from a “c+” rating to a “b” rating in a research report on Monday, April 17th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Eastman Chemical in a research report on Friday, June 16th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $86.00.
In other Eastman Chemical news, Director Lewis M. Kling sold 4,000 shares of Eastman Chemical stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $79.88, for a total value of $319,520.00. Following 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 legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.14% of the company’s stock.
Eastman Chemical Company Profile
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.
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