Toronto Dominion Bank increased its holdings in Eastman Chemical (NYSE:EMN) by 4.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 182,457 shares of the basic materials company’s stock after acquiring an additional 6,962 shares during the quarter. Toronto Dominion Bank owned approximately 0.13% of Eastman Chemical worth $16,903,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Balter Liquid Alternatives LLC purchased a new stake in Eastman Chemical in the fourth quarter worth about $115,000. Steward Partners Investment Advisory LLC purchased a new stake in Eastman Chemical in the third quarter worth about $113,000. NuWave Investment Management LLC purchased a new stake in Eastman Chemical in the fourth quarter worth about $123,000. Vigilant Capital Management LLC purchased a new stake in Eastman Chemical in the fourth quarter worth about $126,000. Finally, Psagot Investment House Ltd. lifted its stake in Eastman Chemical by 60.0% in the third quarter. Psagot Investment House Ltd. now owns 1,600 shares of the basic materials company’s stock worth $145,000 after acquiring an additional 600 shares during the period. 84.13% of the stock is owned by institutional investors.
In other Eastman Chemical news, insider Lucian Boldea sold 3,325 shares of the business’s stock in a transaction dated Friday, February 9th. The shares were sold at an average price of $95.00, for a total value of $315,875.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen R. Demeritt sold 4,000 shares of the business’s stock in a transaction dated Wednesday, February 7th. The stock was sold at an average price of $99.84, for a total transaction of $399,360.00. Following the completion of the transaction, the director now owns 17,732 shares of the company’s stock, valued at $1,770,362.88. The disclosure for this sale can be found here. Insiders sold 66,742 shares of company stock valued at $6,555,051 over the last quarter. 1.14% of the stock is currently owned by corporate insiders.
Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, February 1st. The basic materials company reported $1.62 EPS for the quarter, topping the Zacks’ consensus estimate of $1.06 by $0.56. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.24 billion. Eastman Chemical had a net margin of 15.44% and a return on equity of 22.67%. The firm’s revenue was up 8.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.51 earnings per share. equities analysts predict that Eastman Chemical will post 8.47 EPS for the current fiscal year.
A number of research firms recently weighed in on EMN. Cowen reaffirmed an “outperform” rating and issued a $115.00 price objective (up from $106.00) on shares of Eastman Chemical in a research note on Wednesday, February 7th. Zacks Investment Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Tuesday, February 6th. SunTrust Banks upped their price objective on shares of Eastman Chemical to $105.00 and gave the stock a “hold” rating in a research note on Monday, February 5th. They noted that the move was a valuation call. Barclays upped their price objective on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock an “equal weight” rating in a research note on Monday, February 5th. Finally, KeyCorp reaffirmed a “buy” rating and issued a $118.00 price objective (up from $108.00) on shares of Eastman Chemical in a research note on Monday, January 8th. Nine research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $101.73.
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About Eastman Chemical
Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures 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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