Toronto Dominion Bank grew its stake in Eastman Chemical Company (NYSE:EMN) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 175,495 shares of the basic materials company’s stock after purchasing an additional 5,612 shares during the quarter. Toronto Dominion Bank owned approximately 0.12% of Eastman Chemical worth $15,878,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Janus Henderson Group PLC raised its stake in Eastman Chemical by 38.6% during the second quarter. Janus Henderson Group PLC now owns 25,832 shares of the basic materials company’s stock worth $2,170,000 after acquiring an additional 7,199 shares during the period. Laurion Capital Management LP raised its stake in Eastman Chemical by 689.5% during the second quarter. Laurion Capital Management LP now owns 87,034 shares of the basic materials company’s stock worth $7,310,000 after acquiring an additional 76,010 shares during the period. Contravisory Investment Management Inc. raised its stake in Eastman Chemical by 1.6% during the second quarter. Contravisory Investment Management Inc. now owns 3,293 shares of the basic materials company’s stock worth $277,000 after acquiring an additional 52 shares during the period. Prudential Financial Inc. raised its stake in Eastman Chemical by 3.0% during the second quarter. Prudential Financial Inc. now owns 561,295 shares of the basic materials company’s stock worth $47,143,000 after acquiring an additional 16,260 shares during the period. Finally, Exane Derivatives raised its stake in Eastman Chemical by 569,000.0% during the second quarter. Exane Derivatives now owns 28,455 shares of the basic materials company’s stock worth $2,389,000 after acquiring an additional 28,450 shares during the period. Institutional investors and hedge funds own 83.32% of the company’s stock.

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EMN has been the topic of several research reports. Jefferies Group LLC reiterated a “buy” rating and set a $96.00 price objective on shares of Eastman Chemical in a research note on Tuesday, October 3rd. Deutsche Bank AG increased their price objective on shares of Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and set a $100.00 price objective on shares of Eastman Chemical in a research note on Wednesday, October 4th. Zacks Investment Research lowered shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. Finally, J P Morgan Chase & Co increased 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. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $96.00.

In other news, Director Renee J. Hornbaker sold 4,000 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the completion of the transaction, the director now directly owns 21,858 shares in the company, valued at $1,845,470.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Perry Stuckey sold 5,200 shares of the stock in a transaction that occurred 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. Company insiders own 1.14% of the company’s stock.

Eastman Chemical Company (NYSE EMN) traded up $0.68 during trading on Tuesday, hitting $91.43. 870,800 shares of the stock traded hands, compared to its average volume of 1,157,998. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The company has a market capitalization of $13,043.90, a PE ratio of 12.08, a PEG ratio of 1.55 and a beta of 1.31. Eastman Chemical Company has a twelve month low of $73.52 and a twelve month high of $94.96.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.16. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. equities research analysts forecast that Eastman Chemical Company will post 7.13 earnings per share for the current year.

Eastman Chemical 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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