HAP Trading LLC lifted its position in Eastman Chemical Company (NYSE:EMN) by 23.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 88,966 shares of the basic materials company’s stock after acquiring an additional 16,983 shares during the quarter. HAP Trading LLC owned approximately 0.06% of Eastman Chemical worth $8,051,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Advisors Asset Management Inc. grew its stake in shares of Eastman Chemical by 149.9% in the 2nd 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 in the last quarter. Acrospire Investment Management LLC grew its stake in shares of Eastman Chemical by 1,500.0% in the 2nd 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 in the last quarter. M&R Capital Management Inc. grew its stake in shares of Eastman Chemical by 62.9% in the 2nd 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 in the last quarter. Fiduciary Trust Co. bought a new stake in shares of Eastman Chemical in the 2nd quarter worth $160,000. Finally, Advisory Services Network LLC grew its stake in shares of Eastman Chemical by 105.3% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors own 83.32% of the company’s stock.

In other news, Director Renee J. Hornbaker sold 4,000 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $84.43, for a total transaction of $337,720.00. Following the sale, the director now directly owns 21,858 shares in the company, valued at $1,845,470.94. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Perry Stuckey sold 5,200 shares of the company’s stock in a transaction dated Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The disclosure for this sale can be found here. Corporate insiders own 1.14% of the company’s stock.

Eastman Chemical Company (NYSE:EMN) traded up $0.60 during midday trading on Friday, reaching $90.15. 814,700 shares of the company’s stock traded hands, compared to its average volume of 1,161,146. The stock has a market capitalization of $12,871.42, a P/E ratio of 11.92, a PEG ratio of 1.52 and a beta of 1.31. Eastman Chemical Company has a 1-year low of $73.52 and a 1-year high of $94.96. 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 (NYSE:EMN) last released its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.03 by $0.16. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business had revenue of $2.47 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm earned $1.86 earnings per share. The company’s revenue was up 7.8% compared to the same quarter last year. equities research analysts expect that Eastman Chemical Company will post 7.13 EPS for the current fiscal year.

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A number of equities analysts recently weighed in on the stock. Jefferies Group LLC reissued a “buy” rating and issued a $96.00 price target on shares of Eastman Chemical in a report on Tuesday, October 3rd. Deutsche Bank AG boosted their price target on shares of Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $100.00 price target on shares of Eastman Chemical in a report on Wednesday, October 4th. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Finally, J P Morgan Chase & Co boosted their price target on shares of Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a report on Monday, October 30th. Ten investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average 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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