Stock Mover of the Day: Eastman Chemical Co (NYSE:EMN) Institutional Investor Positioning

November 25, 2016 - By Marguerite Chambers   ·   0 Comments

Stock Mover of the Day: Eastman Chemical Co (NYSE:EMN) Institutional Investor Positioning

Sentiment for Eastman Chemical Co (NYSE:EMN)

Eastman Chemical Co (NYSE:EMN) institutional sentiment decreased to 1.07 in 2016 Q2. Its down -0.17, from 1.24 in 2016Q1. The ratio has worsened, as 255 active investment managers increased or started new equity positions, while 205 decreased and sold holdings in Eastman Chemical Co. The active investment managers in our partner’s database now own: 123.13 million shares, down from 126.13 million shares in 2016Q1. Also, the number of active investment managers holding Eastman Chemical Co in their top 10 equity positions decreased from 4 to 0 for a decrease of 4. Sold All: 42 Reduced: 163 Increased: 203 New Position: 52.

Eastman Chemical Company is a specialty chemicals firm that produces a range of advanced materials, chemicals and fibers. The company has a market cap of $11.11 billion. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). It has a 12.97 P/E ratio. In the AFP segment, the Company makes chemicals for products in the coatings, tires, consumables, animal nutrition, crop protection and energy markets.

The stock decreased 1.87% or $1.43 during the last trading session, hitting $75.14. About 959,004 shares traded hands. Eastman Chemical Company (NYSE:EMN) has risen 0.04% since April 22, 2016 and is uptrending. It has underperformed by 5.37% the S&P500.

Analysts await Eastman Chemical Company (NYSE:EMN) to report earnings on January, 26. They expect $1.50 earnings per share, down 5.66% or $0.09 from last year’s $1.59 per share. EMN’s profit will be $221.79M for 12.52 P/E if the $1.50 EPS becomes a reality. After $1.86 actual earnings per share reported by Eastman Chemical Company for the previous quarter, Wall Street now forecasts -19.35% negative EPS growth.

According to Zacks Investment Research, “Eastman Chemical Company is a global chemical company with a broad portfolio of chemical, plastic, and fiber products. The company manufactures and sells chemicals and specialty polymers supplied to the inks, coatings, adhesives, sealants, and textile industries; fine chemicals; performance chemicals and intermediates; specialty plastics; polyester plastics such as polyethylene terephthalate sold under the trademark EASTAPAK polymers; and fibers.”

Edgepoint Investment Group Inc. holds 3.56% of its portfolio in Eastman Chemical Company for 3.00 million shares. Iridian Asset Management Llc Ct owns 4.59 million shares or 2.88% of their US portfolio. Moreover, Mrj Capital Inc has 2.3% invested in the company for 49,800 shares. The New Jersey-based Groesbeck Investment Management Corp Nj has invested 2% in the stock. Wilen Investment Management Corp., a Florida-based fund reported 44,700 shares.#img1#

Insider Transactions: Since January 1, 0001, the stock had 0 buys, and 1 insider sale for $297,200 net activity.

Eastman Chemical Company (NYSE:EMN) Ratings Coverage

Ratings analysis reveals 67% of Eastman Chemical Company’s analysts are positive. Out of 12 Wall Street analysts rating Eastman Chemical Company, 8 give it “Buy”, 2 “Sell” rating, while 2 recommend “Hold”. The lowest target is $73 while the high is $90. The stock’s average target of $81.70 is 8.73% above today’s ($75.14) share price. EMN was included in 24 notes of analysts from July 30, 2015. On Monday, May 2 the stock rating was maintained by Jefferies with “Buy”. On Monday, May 2 the stock rating was downgraded by CLSA to “Underperform”. On Friday, July 1 the stock rating was initiated by Susquehanna with “Positive”. The firm earned “Buy” rating on Thursday, August 20 by Deutsche Bank. The stock of Eastman Chemical Company (NYSE:EMN) earned “Underperform” rating by Credit Agricole on Monday, May 2. The firm has “” rating given on Thursday, September 3 by Deutsche Bank. The firm has “Outperform” rating by RBC Capital Markets given on Monday, November 2. The rating was maintained by Citigroup on Monday, April 18 with “Buy”. Cowen & Co maintained the shares of EMN in a report on Tuesday, August 23 with “Outperform” rating. The firm has “Neutral” rating given on Wednesday, September 7 by Citigroup.

EMN Company Profile

Eastman Chemical Company (Eastman), incorporated on July 29, 1993, is a specialty chemicals firm that produces a range of materials, chemicals and fibers. The Firm operates through five divisions: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Firm has over 50 manufacturing sites and equity interests in approximately four manufacturing joint ventures in approximately 15 countries.

More news for Eastman Chemical Company (NYSE:EMN) were recently published by: Reuters.com, which released: “BRIEF-Eastman Chemical Company announces the pricing terms of its cash ten…” on November 16, 2016. Nasdaq.com‘s article titled: “Eastman Chemical Company Announces Cash Tender Offer for up to $400 Million in …” and published on October 31, 2016 is yet another important article.

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By Marguerite Chambers


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