Eastman Chemical Company (EMN) : Quest Investment Management Incor reduced its stake in Eastman Chemical Company by 54.65% during the most recent quarter end. The investment management company now holds a total of 89,029 shares of Eastman Chemical Company which is valued at $6,610,403 after selling 107,280 shares in Eastman Chemical Company , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Eastman Chemical Company makes up approximately 0.92% of Quest Investment Management Incor’s portfolio.
Other Hedge Funds, Including , Carlson Capital L P boosted its stake in EMN in the latest quarter, The investment management firm added 194,500 additional shares and now holds a total of 308,350 shares of Eastman Chemical Company which is valued at $22,894,988. Eastman Chemical Company makes up approx 0.29% of Carlson Capital L P’s portfolio.Comerica Bank boosted its stake in EMN in the latest quarter, The investment management firm added 1,878 additional shares and now holds a total of 99,224 shares of Eastman Chemical Company which is valued at $7,515,226. Eastman Chemical Company makes up approx 0.06% of Comerica Bank’s portfolio.Mitsubishi Ufj Kokusai Asset Management Ltd. boosted its stake in EMN in the latest quarter, The investment management firm added 879 additional shares and now holds a total of 22,902 shares of Eastman Chemical Company which is valued at $1,646,883. Eastman Chemical Company makes up approx 0.04% of Mitsubishi Ufj Kokusai Asset Management Ltd.’s portfolio.
Eastman Chemical Company closed down -0.29 points or -0.39% at $74.18 with 6,29,888 shares getting traded on Monday. Post opening the session at $74.28, the shares hit an intraday low of $73.98 and an intraday high of $74.53 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.
On the company’s financial health, Eastman Chemical Company reported $1.86 EPS for the quarter, beating the analyst consensus estimate by $ 0.19 according to the earnings call on Oct 27, 2016. Analyst had a consensus of $1.67. The company had revenue of $2287.00 million for the quarter, compared to analysts expectations of $2300.81 million. The company’s revenue was down -6.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.84 EPS.
Many Wall Street Analysts have commented on Eastman Chemical Company. Company shares were Reiterated by RBC Capital Mkts on Oct 31, 2016 to “Sector Perform”, Firm has raised the Price Target to $ 75 from a previous price target of $70 .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 .
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.