Nomura Asset Management Co. Ltd. boosted its position in shares of Eastman Chemical Company (NYSE:EMN) by 10.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 21,303 shares of the basic materials company’s stock after acquiring an additional 1,981 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eastman Chemical were worth $1,927,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. King Luther Capital Management Corp acquired a new position in Eastman Chemical during the 3rd quarter worth approximately $1,371,000. Caisse DE Depot ET Placement DU Quebec grew its holdings in Eastman Chemical by 2.1% during the 3rd quarter. Caisse DE Depot ET Placement DU Quebec now owns 48,095 shares of the basic materials company’s stock worth $4,370,000 after acquiring an additional 1,000 shares in the last quarter. Engineers Gate Manager LP acquired a new position in Eastman Chemical during the 3rd quarter worth approximately $455,000. Private Advisor Group LLC grew its holdings in Eastman Chemical by 106.7% during the 3rd quarter. Private Advisor Group LLC now owns 8,697 shares of the basic materials company’s stock worth $783,000 after acquiring an additional 4,490 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Eastman Chemical by 6.4% during the 3rd quarter. Stifel Financial Corp now owns 164,308 shares of the basic materials company’s stock worth $14,867,000 after acquiring an additional 9,888 shares in the last quarter. Institutional investors own 82.66% of the company’s stock.
In related news, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.14% of the stock is currently owned by insiders.
Shares of Eastman Chemical Company (NYSE:EMN) opened at $93.08 on Thursday. The firm has a market cap of $13,380.00, a P/E ratio of 12.39, a PEG ratio of 1.59 and a beta of 1.30. The company has a current ratio of 1.83, a quick ratio of 0.94 and a debt-to-equity ratio of 1.24. Eastman Chemical Company has a 12-month low of $74.78 and a 12-month high of $94.96.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share for the quarter, topping the consensus estimate of $2.03 by $0.16. The business had revenue of $2.47 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The company’s revenue was up 7.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.86 EPS. research analysts expect that Eastman Chemical Company will post 7.12 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, January 5th. Stockholders of record on Monday, December 18th will be given a dividend of $0.56 per share. This represents a $2.24 annualized dividend and a dividend yield of 2.41%. The ex-dividend date of this dividend is Friday, December 15th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.51. Eastman Chemical’s payout ratio is currently 29.61%.
About Eastman Chemical
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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