Eastman Chemical Company (EMN) : Profit Investment Management reduced its stake in Eastman Chemical Company by 42.1% during the most recent quarter end. The investment management company now holds a total of 13,044 shares of Eastman Chemical Company which is valued at $823,989 after selling 9,484 shares in Eastman Chemical Company , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Eastman Chemical Company makes up approximately 0.83% of Profit Investment Management’s portfolio.
Other Hedge Funds, Including , Parametrica Management Ltd sold out all of its stake in EMN during the most recent quarter. The investment firm sold 4,683 shares of EMN which is valued $295,825.First National Bank Of Omaha reduced its stake in EMN by selling 55,945 shares or 84.37% in the most recent quarter. The Hedge Fund company now holds 10,363 shares of EMN which is valued at $676,808. Eastman Chemical Company makes up approx 0.05% of First National Bank Of Omaha’s portfolio.Bnp Paribas Arbitrage Sa reduced its stake in EMN by selling 15,654 shares or 16.39% in the most recent quarter. The Hedge Fund company now holds 79,866 shares of EMN which is valued at $5,363,801. Eastman Chemical Company makes up approx 0.02% of Bnp Paribas Arbitrage Sa’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 -0.87 points or -1.31% at $65.31 with 11,64,863 shares getting traded on Tuesday. Post opening the session at $65.88, the shares hit an intraday low of $64.8905 and an intraday high of $65.915 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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.