Calamos Advisors LLC raised its stake in Eastman Chemical Co. (NYSE:EMN) by 0.0% during the second quarter, Holdings Channel reports. The institutional investor owned 10,162 shares of the company’s stock after buying an additional 4 shares during the period. Calamos Advisors LLC’s holdings in Eastman Chemical were worth $690,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of EMN. Acrospire Investment Management LLC acquired a new position in shares of Eastman Chemical during the first quarter valued at $108,000. Financial Architects Inc boosted its position in shares of Eastman Chemical by 8,181.8% in the second quarter. Financial Architects Inc now owns 1,822 shares of the company’s stock valued at $123,000 after buying an additional 1,800 shares in the last quarter. Meeder Asset Management Inc. acquired a new position in shares of Eastman Chemical during the first quarter valued at $189,000. Magnetar Financial LLC acquired a new position in shares of Eastman Chemical during the first quarter valued at $203,000. Finally, Park National Corp OH boosted its position in shares of Eastman Chemical by 6.5% in the second quarter. Park National Corp OH now owns 3,078 shares of the company’s stock valued at $209,000 after buying an additional 189 shares in the last quarter. 84.06% of the stock is owned by institutional investors.
Eastman Chemical Co. (NYSE:EMN) traded up 0.79% during midday trading on Thursday, hitting $67.69. The stock had a trading volume of 990,641 shares. The stock has a market cap of $10.00 billion, a P/E ratio of 11.40 and a beta of 1.53. Eastman Chemical Co. has a 52 week low of $56.03 and a 52 week high of $78.79. The company has a 50-day moving average price of $66.31 and a 200-day moving average price of $70.36.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.68 EPS for the quarter, missing analysts’ consensus estimates of $1.73 by $0.05. The company earned $2.30 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a net margin of 9.63% and a return on equity of 24.40%. The company’s quarterly revenue was down 9.3% compared to the same quarter last year. During the same period in the previous year, the company posted $2.01 earnings per share. Equities analysts expect that Eastman Chemical Co. will post $6.54 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Thursday, September 15th were paid a $0.46 dividend. The ex-dividend date was Tuesday, September 13th. This represents a $1.84 dividend on an annualized basis and a yield of 2.72%. Eastman Chemical’s dividend payout ratio (DPR) is presently 30.98%.
Several equities analysts have recently weighed in on EMN shares. Nomura set a $75.00 price target on shares of Eastman Chemical and gave the stock a “buy” rating in a research note on Monday, August 1st. Deutsche Bank AG decreased their price target on shares of Eastman Chemical from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Monday, August 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Eastman Chemical in a research note on Friday, July 29th. Jefferies Group reissued a “buy” rating and issued a $88.00 target price on shares of Eastman Chemical in a research note on Friday, July 29th. Finally, TheStreet cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Friday, July 29th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $76.29.
About Eastman Chemical
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).
Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical Co. (NYSE:EMN).
Receive News & Ratings for Eastman Chemical Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Co. and related companies with MarketBeat.com's FREE daily email newsletter.