Economy

Goldman Sachs Boosts Rating On Eastman Chemical Company (EMN) To "Buy"

The firm owned 16,586 shares of the basic materials company's stock after selling 16,800 shares during the period. Oregon Employees Retirement Fund has invested 0.05% of its portfolio in Eastman Chemical Company (NYSE:EMN). Finally, AQR Capital Management LLC grew its holdings in Eastman Chemical by 18.7% during the 1st quarter. It also reduced Pypl stake by 2,250 shares and now owns 41,485 shares. Exane Derivatives augmented its investment by buying 28,450 shares an increase of 569,000.0% in the quarter. Jaffetilchin Investment Partners LLC now owns 5,431 shares of the basic materials company's stock worth $439,000 after purchasing an additional 40 shares in the last quarter. BlackRock Inc. boosted its stake in Eastman Chemical by 3,636.5% during the 1st quarter. Envestnet Asset Mngmt Incorporated owns 0.01% invested in Eastman Chemical Company (NYSE:EMN) for 50,523 shares. Eastman Chemical Company (NYSE:EMN) has risen 7.60% since September 28, 2016 and is uptrending. BlackRock Inc. now owns 11,468,628 shares of the basic materials company's stock worth $926,666,000 after acquiring an additional 11,161,689 shares during the period.

02/01/2017 - Eastman Chemical Company had its "buy" rating reiterated by analysts at Instinet. James Investment Research Inc. now owns 4,023 shares of the basic materials company's stock worth $338,000 after purchasing an additional 55 shares in the last quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company.

Fmr LLC lowered its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 6.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC).

Davenport & Company Llc increased Emn (EMN) stake by 1.02% reported in 2017Q2 SEC filing.

Shares of Eastman Chemical Company (EMN) opened at 87.35 on Thursday.

The company's P/E ratio is 14.44 and the market cap is 13.03B. Shares are trading at $89.96 which is marginally higher than $84.71, the 50 day moving average and marginally over the 200 day moving average of $81.98. Moreover, Boston Advisors Ltd Liability Corp has 0.02% invested in Eastman Chemical Company (NYSE:EMN). Analysts forecast EPS of $2.03, up exactly $0.17 or 9.14 % from 2014's $1.86 EPS. The business earned $2.19 billion during the quarter, compared to analysts' expectations of $2.14 billion. Eastman Chemical had a net margin of 12.15% and a return on equity of 24.75%. During the same quarter previous year, the company posted $1.68 EPS. As of the last earnings report the EPS was $6.23 and is expected to be $7.52 for the current year with 144,828,000 shares now outstanding. Nasdaq.com's news article titled: "Eastman Chemical Company (EMN) Ex-Dividend Date Scheduled for September 14, 2017" with publication date: September 13, 2017 was also an interesting one. Da Davidson & Communication holds 0.03% or 15,469 shares in its portfolio. This represents a $2.04 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Monday, March 13th. Eastman Chemical's dividend payout ratio is presently 32.28%.

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07/10/2017 - Eastman Chemical Company had its "buy" rating reiterated by analysts at Jefferies.

In other news, Director Renee J. Hornbaker sold 4,000 shares of the business's stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $79.18, for a total transaction of $316,720.00. The stock was sold at an average price of $84.24, for a total value of $117,936.00. The disclosure for this sale can be found here. Citigroup upgraded the shares of EMN in report on Tuesday, January 5 to "Buy" rating.

Stock market analysts and brokers have recently amended their target prices on shares of Eastman Chemical Company (NYSE:EMN). Goldman Sachs Group, Inc.

The analysts offering 12 month price targets for Eastman Chemical Company have a median target of $94, with a high estimate of $100 and a low estimate of $73. Finally, Instinet boosted their price target on Eastman Chemical Company from $77.00 to $87.00 and gave the company a "buy" rating in a report on Wednesday, February 1st. The company saw a rise in short interest of 26.04% as of the latest report on August 31, 2017. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. On Friday, May 26 the stock rating was maintained by Deutsche Bank with "Buy".

Eastman Chemical Company is an advanced materials and specialty additives company. The Company operates through four segments: Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it makes 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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