Eastman Chemical (EMN) Shares Bought by Engineers Gate Manager LP

Engineers Gate Manager LP lifted its position in Eastman Chemical (NYSE:EMN) by 202.9% in the 4th quarter, Holdings Channel reports. The firm owned 15,232 shares of the basic materials company’s stock after purchasing an additional 10,204 shares during the quarter. Engineers Gate Manager LP’s holdings in Eastman Chemical were worth $1,411,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in EMN. Steward Partners Investment Advisory LLC purchased a new position in shares of Eastman Chemical in the third quarter worth about $113,000. Vigilant Capital Management LLC purchased a new position in shares of Eastman Chemical in the fourth quarter worth about $126,000. Psagot Investment House Ltd. raised its stake in shares of Eastman Chemical by 60.0% in the third quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock worth $145,000 after purchasing an additional 600 shares during the last quarter. Advisory Services Network LLC raised its stake in shares of Eastman Chemical by 105.3% in the second quarter. Advisory Services Network LLC now owns 2,203 shares of the basic materials company’s stock worth $185,000 after purchasing an additional 1,130 shares during the last quarter. Finally, Parkwood LLC purchased a new position in shares of Eastman Chemical in the third quarter worth about $200,000. Hedge funds and other institutional investors own 82.30% of the company’s stock.

Shares of Eastman Chemical (NYSE:EMN) opened at $93.57 on Friday. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94. Eastman Chemical has a 1-year low of $76.02 and a 1-year high of $104.08. The company has a market capitalization of $14,154.14, a P/E ratio of 9.25, a price-to-earnings-growth ratio of 1.42 and a beta of 1.33.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.62 EPS for the quarter, beating the consensus estimate of $1.06 by $0.56. Eastman Chemical had a return on equity of 22.67% and a net margin of 15.44%. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.24 billion. During the same period last year, the company earned $1.51 earnings per share. Eastman Chemical’s quarterly revenue was up 8.0% compared to the same quarter last year. equities research analysts anticipate that Eastman Chemical will post 8.45 EPS for the current year.

Several research analysts recently weighed in on the company. Barclays lifted their price target on Eastman Chemical from $100.00 to $108.00 and gave the company an “equal weight” rating in a research report on Monday. SunTrust Banks lifted their price target on Eastman Chemical to $105.00 and gave the company a “hold” rating in a research report on Monday. They noted that the move was a valuation call. Cowen reiterated an “outperform” rating and set a $115.00 price target (up from $106.00) on shares of Eastman Chemical in a research report on Wednesday. Zacks Investment Research cut Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Friday, January 12th. Finally, KeyCorp reiterated a “buy” rating and set a $118.00 price target (up from $108.00) on shares of Eastman Chemical in a research report on Monday, January 8th. Nine analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $101.73.

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

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