Nomura Asset Management Co. Ltd. Increases Position in Eastman Chemical Company (EMN)

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.

Several research firms have commented on EMN. Cowen reiterated an “outperform” rating and set a $106.00 price target (up previously from $92.00) on shares of Eastman Chemical in a report on Friday, December 8th. SunTrust Banks reiterated a “hold” rating and set a $90.00 price target on shares of Eastman Chemical in a report on Thursday, October 12th. Jefferies Group reiterated a “buy” rating and set a $96.00 price target on shares of Eastman Chemical in a report on Tuesday, October 3rd. Zacks Investment Research upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a report on Thursday, October 26th. Finally, Goldman Sachs Group upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $81.00 to $101.00 in a report on Thursday, September 28th. Ten research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Eastman Chemical currently has a consensus rating of “Hold” and an average target price of $96.93.

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%.

COPYRIGHT VIOLATION NOTICE: This story was first reported by Sports Perspectives and is the property of of Sports Perspectives. If you are viewing this story on another website, it was illegally copied and reposted in violation of international trademark and copyright legislation. The correct version of this story can be viewed at https://sportsperspectives.com/2017/12/14/nomura-asset-management-co-ltd-increases-position-in-eastman-chemical-company-emn.html.

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.

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

Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply