Mutual of America Capital Management LLC Sells 442 Shares of Eastman Chemical (NYSE:EMN)

Mutual of America Capital Management LLC trimmed its holdings in shares of Eastman Chemical (NYSE:EMN) by 3.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 14,377 shares of the basic materials company’s stock after selling 442 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eastman Chemical were worth $1,610,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical in the second quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its holdings in Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Eastman Chemical in the 1st quarter valued at $38,000. Rothschild Investment LLC bought a new stake in shares of Eastman Chemical during the 2nd quarter valued at $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the 3rd quarter worth $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $105.85 on Tuesday. The firm has a market capitalization of $12.27 billion, a price-to-earnings ratio of 14.17, a PEG ratio of 0.81 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The business’s 50-day moving average price is $106.43 and its 200-day moving average price is $101.59. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period last year, the company earned $1.47 EPS. The firm’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Eastman Chemical will post 7.63 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on EMN. Barclays boosted their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $105.00 price target on shares of Eastman Chemical in a report on Friday. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft cut their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Wells Fargo & Company decreased their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Hold” and an average target price of $111.50.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the sale, the senior vice president now directly owns 12,366 shares in the company, valued at $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.28% of the company’s stock.

Eastman Chemical Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.