Edgemoor Investment Advisors buys $5,634,017 stake in Eastman Chemical Company (EMN)

Eastman Chemical Company (EMN) : Edgemoor Investment Advisors scooped up 21,618 additional shares in Eastman Chemical Company during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 3, 2016. The investment management firm now holds a total of 86,784 shares of Eastman Chemical Company which is valued at $5,634,017.Eastman Chemical Company makes up approximately 0.87% of Edgemoor Investment Advisors’s portfolio.

Other Hedge Funds, Including , Ghp Investment Advisors boosted its stake in EMN in the latest quarter, The investment management firm added 124 additional shares and now holds a total of 16,096 shares of Eastman Chemical Company which is valued at $1,044,952. Eastman Chemical Company makes up approx 0.20% of Ghp Investment Advisors’s portfolio.Smith Asset Management Group Lp boosted its stake in EMN in the latest quarter, The investment management firm added 50 additional shares and now holds a total of 880 shares of Eastman Chemical Company which is valued at $61,882.Butensky Cohen Financial Security Inc reduced its stake in EMN by selling 820 shares or 3.69% in the most recent quarter. The Hedge Fund company now holds 21,407 shares of EMN which is valued at $1,505,340. Eastman Chemical Company makes up approx 1.46% of Butensky Cohen Financial Security Inc’s portfolio.Robeco Institutional Asset Management B.v. boosted its stake in EMN in the latest quarter, The investment management firm added 2,756 additional shares and now holds a total of 7,234 shares of Eastman Chemical Company which is valued at $520,342.

Eastman Chemical Company opened for trading at $65.55 and hit $66.19 on the upside on Monday, eventually ending the session at $65.56, with a gain of 0.29% or 0.19 points. The heightened volatility saw the trading volume jump to 9,49,740 shares. Company has a market cap of $9,684 M.

On the company’s financial health, Eastman Chemical Company reported $1.68 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jul 28, 2016. Analyst had a consensus of $1.73. The company had revenue of $2297.00 million for the quarter, compared to analysts expectations of $2356.05 million. The company’s revenue was down -9.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $2.01 EPS.

Many Wall Street Analysts have commented on Eastman Chemical Company. Shares were Downgraded by RBC Capital Mkts on Aug 2, 2016 to ” Sector Perform” and Lowered the Price Target to $ 70 from a previous price target of $83 .Shares were Reiterated by Deutsche Bank on Aug 1, 2016 to “Buy” and Lowered the Price Target to $ 75 from a previous price target of $85 .Eastman Chemical Company was Initiated by Susquehanna to “Positive” on Jul 1, 2016.

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). The Company manufactures chemicals for products in the coatings and tires industries in transportation building and construction durable goods and consumables markets in the Additives & Functional Products segment. The Company’s A&P segment focuses on producing intermediate chemicals. The Company’s the AM segment produces and markets specialty copolyesters cellulose esters interlayers. In the Fibers segment Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Company’s SFI segment offers products such as acetyl chemical intermediates olefin derivatives specialty fluids and alkylamines.

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