Channing Capital Management LLC raised its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 87,824 shares of the basic materials company’s stock after buying an additional 772 shares during the period. Channing Capital Management LLC owned about 0.06% of Eastman Chemical worth $7,947,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of EMN. BlackRock Inc. boosted its holdings in Eastman Chemical by 6.3% during the second quarter. BlackRock Inc. now owns 12,186,134 shares of the basic materials company’s stock worth $1,023,514,000 after buying an additional 717,506 shares in the last quarter. Parametric Portfolio Associates LLC boosted its holdings in Eastman Chemical by 249.2% during the second quarter. Parametric Portfolio Associates LLC now owns 759,967 shares of the basic materials company’s stock worth $63,830,000 after buying an additional 542,349 shares in the last quarter. Assenagon Asset Management S.A. bought a new stake in Eastman Chemical during the third quarter worth approximately $42,235,000. PGGM Investments boosted its holdings in Eastman Chemical by 259.5% during the third quarter. PGGM Investments now owns 333,625 shares of the basic materials company’s stock worth $30,190,000 after buying an additional 240,832 shares in the last quarter. Finally, APG Asset Management N.V. boosted its holdings in Eastman Chemical by 29.4% during the third quarter. APG Asset Management N.V. now owns 957,213 shares of the basic materials company’s stock worth $86,618,000 after buying an additional 217,600 shares in the last quarter. Hedge funds and other institutional investors own 82.76% of the company’s stock.

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Shares of Eastman Chemical Company (NYSE EMN) traded up $0.34 during trading hours on Friday, hitting $91.32. 556,282 shares of the company’s stock were exchanged, compared to its average volume of 1,319,375. The company has a quick ratio of 1.08, a current ratio of 2.04 and a debt-to-equity ratio of 1.36. The firm has a market cap of $13.23 billion, a price-to-earnings ratio of 12.13, a P/E/G ratio of 1.56 and a beta of 1.31. Eastman Chemical Company has a 52 week low of $70.69 and a 52 week high of $94.96.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.16. The company had revenue of $2.47 billion during the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 10.89% and a return on equity of 23.20%. Eastman Chemical’s revenue for the quarter was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.86 EPS. sell-side analysts expect that Eastman Chemical Company will post 7.11 earnings per share for the current year.

In other Eastman Chemical news, Director Renee J. Hornbaker sold 4,000 shares of the business’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total transaction of $337,720.00. Following the completion of the sale, the director now owns 21,858 shares in the company, valued at approximately $1,845,470.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Perry Stuckey sold 5,200 shares of the business’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total transaction of $479,024.00. The disclosure for this sale can be found here. Insiders own 1.14% of the company’s stock.

EMN has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, August 2nd. KeyCorp reaffirmed a “buy” rating and issued a $108.00 price objective (up previously from $100.00) on shares of Eastman Chemical in a research note on Monday, October 30th. J P Morgan Chase & Co raised their price objective on shares of Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. UBS Group AG (USA) raised their price objective on shares of Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and issued a $102.00 price objective (up previously from $94.00) on shares of Eastman Chemical in a research note on Monday, October 30th. They noted that the move was a valuation call. Nine equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $96.00.

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.

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

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