Eastman Chemical Company (EMN) Shares Bought by Fjarde AP Fonden Fourth Swedish National Pension Fund

Fjarde AP Fonden Fourth Swedish National Pension Fund grew its stake in Eastman Chemical Company (NYSE:EMN) by 112.1% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 39,860 shares of the basic materials company’s stock after acquiring an additional 21,071 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Eastman Chemical were worth $3,607,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Advisors Asset Management Inc. raised its stake in shares of Eastman Chemical by 149.9% in the second quarter. Advisors Asset Management Inc. now owns 1,377 shares of the basic materials company’s stock worth $116,000 after acquiring an additional 826 shares during the last quarter. Acrospire Investment Management LLC raised its stake in shares of Eastman Chemical by 1,500.0% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the basic materials company’s stock worth $134,000 after acquiring an additional 1,500 shares during the last quarter. M&R Capital Management Inc. raised its stake in shares of Eastman Chemical by 62.9% in the second quarter. M&R Capital Management Inc. now owns 1,812 shares of the basic materials company’s stock worth $150,000 after acquiring an additional 700 shares during the last quarter. Fiduciary Trust Co. bought a new position in shares of Eastman Chemical in the second quarter worth about $160,000. Finally, 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 acquiring an additional 1,130 shares during the last quarter. 83.32% of the stock is owned by institutional investors.

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Eastman Chemical Company (NYSE EMN) opened at $89.74 on Friday. The stock has a market cap of $12,898.69, a P/E ratio of 11.95, a P/E/G ratio of 1.53 and a beta of 1.31. The company has a debt-to-equity ratio of 1.24, a quick ratio of 0.94 and a current ratio of 1.83. Eastman Chemical Company has a 1-year low of $73.52 and a 1-year 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 (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.03 by $0.16. The firm 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 for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.86 earnings per share. equities analysts forecast that Eastman Chemical Company will post 7.13 EPS for the current year.

In related news, Director Renee J. Hornbaker sold 4,000 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 21,858 shares in the company, valued at $1,845,470.94. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Perry Stuckey sold 5,200 shares of the business’s 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. 1.14% of the stock is currently owned by insiders.

A number of equities analysts have weighed in on EMN shares. Jefferies Group LLC reaffirmed a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a research note on Tuesday, October 3rd. Deutsche Bank AG boosted their target price 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. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research note on Tuesday, October 17th. KeyCorp reaffirmed a “buy” rating and issued a $100.00 target price on shares of Eastman Chemical in a research note on Wednesday, October 4th. Finally, J P Morgan Chase & Co boosted their target price 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 company’s stock. The stock currently has an average rating of “Hold” and a consensus target price 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.

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

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