Eastman Chemical (NYSE:EMN) Shares Sold by Advisors Asset Management Inc.

Advisors Asset Management Inc. trimmed its holdings in Eastman Chemical (NYSE:EMNGet Rating) by 18.5% in the second quarter, Holdings Channel.com reports. The institutional investor owned 1,368 shares of the basic materials company’s stock after selling 311 shares during the quarter. Advisors Asset Management Inc.’s holdings in Eastman Chemical were worth $123,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Checchi Capital Advisers LLC boosted its stake in Eastman Chemical by 3.0% during the first quarter. Checchi Capital Advisers LLC now owns 3,359 shares of the basic materials company’s stock worth $376,000 after buying an additional 97 shares during the period. Capital Analysts LLC raised its holdings in Eastman Chemical by 13.1% in the first quarter. Capital Analysts LLC now owns 852 shares of the basic materials company’s stock valued at $96,000 after acquiring an additional 99 shares in the last quarter. TCM Advisors LLC raised its holdings in Eastman Chemical by 1.4% in the first quarter. TCM Advisors LLC now owns 7,000 shares of the basic materials company’s stock valued at $784,000 after acquiring an additional 100 shares in the last quarter. Veritable L.P. raised its holdings in Eastman Chemical by 4.5% during the first quarter. Veritable L.P. now owns 2,432 shares of the basic materials company’s stock worth $273,000 after purchasing an additional 104 shares in the last quarter. Finally, Blair William & Co. IL raised its holdings in Eastman Chemical by 2.5% during the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock worth $491,000 after purchasing an additional 105 shares in the last quarter. 85.41% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Performance

NYSE:EMN opened at $86.88 on Wednesday. The firm’s fifty day moving average price is $77.31 and its 200 day moving average price is $89.76. Eastman Chemical has a 1-year low of $69.91 and a 1-year high of $129.48. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.28 and a quick ratio of 0.66. The firm has a market cap of $10.42 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 2.56 and a beta of 1.46.

Wall Street Analyst Weigh In

A number of analysts have weighed in on EMN shares. Royal Bank of Canada cut their price objective on shares of Eastman Chemical from $97.00 to $82.00 and set a “sector perform” rating on the stock in a report on Thursday, September 15th. KeyCorp cut their price objective on shares of Eastman Chemical from $111.00 to $98.00 and set an “overweight” rating on the stock in a report on Monday, October 31st. Wells Fargo & Company cut their target price on shares of Eastman Chemical from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 18th. Barclays cut their target price on shares of Eastman Chemical from $110.00 to $82.00 in a report on Tuesday, October 11th. Finally, Tudor Pickering raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. Eleven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $97.31.

Eastman Chemical Company Profile

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Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

Further Reading

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

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