Eastman Chemical Company (EMN) : Founders Financial Securities added new position in Eastman Chemical Company during the most recent quarter end. The investment management firm now holds 5,119 shares of Eastman Chemical Company which is valued at $340,260 , the company said in a statement filed on Oct 7, 2016 with the SEC.Eastman Chemical Company makes up approximately 0.15% of Founders Financial Securities’s portfolio.
Other Hedge Funds, Including , Exxonmobil Investment Management Inc Tx reduced its stake in EMN by selling 764 shares or 1.99% in the most recent quarter. The Hedge Fund company now holds 37,716 shares of EMN which is valued at $2,506,983. Eastman Chemical Company makes up approx 0.05% of Exxonmobil Investment Management Inc Tx’s portfolio.Summit Financial Wealth Advisors reduced its stake in EMN by selling 728 shares or 7.97% in the most recent quarter. The Hedge Fund company now holds 8,405 shares of EMN which is valued at $564,480. Eastman Chemical Company makes up approx 0.25% of Summit Financial Wealth Advisors’s portfolio.First National Bank Of Mount Dora Trust Investment Services boosted its stake in EMN in the latest quarter, The investment management firm added 2,058 additional shares and now holds a total of 22,451 shares of Eastman Chemical Company which is valued at $1,507,809. Eastman Chemical Company makes up approx 0.85% of First National Bank Of Mount Dora Trust Investment Services’s portfolio.Washington Trust Bank boosted its stake in EMN in the latest quarter, The investment management firm added 631 additional shares and now holds a total of 18,252 shares of Eastman Chemical Company which is valued at $1,225,804. Eastman Chemical Company makes up approx 0.29% of Washington Trust Bank’s portfolio.
Eastman Chemical Company closed down -1.22 points or -1.80% at $66.47 with 12,84,596 shares getting traded on Friday. Post opening the session at $67.9, the shares hit an intraday low of $66.1 and an intraday high of $67.92 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
On the company’s financial health, Eastman Chemical Company reported $1.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.73. The company had revenue of $2297.00 million for the quarter, compared to analysts expectations of $2356.05 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.01 EPS.
Many Wall Street Analysts have commented on Eastman Chemical Company. Eastman Chemical Company was Downgraded by Citigroup to ” Neutral” on Sep 7, 2016. Shares were Reiterated by Cowen on Aug 23, 2016 to “Outperform” and Lowered the Price Target to $ 80 from a previous price target of $96 .Shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform” and Lowered the Price Target to $ 70 from a previous price target of $83 .
Eastman Chemical Company (Eastman) is a specialty chemicals company that produces a range of advanced materials chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP) Adhesives & Plasticizers (A&P) Advanced Materials (AM) Fibers and Specialty Fluids & Intermediates (SFI). The Company manufactures chemicals for products in the coatings and tires industries in transportation building and construction durable goods and consumables markets in the Additives & Functional Products segment. The Company’s A&P segment focuses on producing intermediate chemicals. The Company’s the AM segment produces and markets specialty copolyesters cellulose esters interlayers. In the Fibers segment Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Company’s SFI segment offers products such as acetyl chemical intermediates olefin derivatives specialty fluids and alkylamines.