Pnc Financial Services Group INC Cut Holding in Eastman Chemical Co (EMN) as Valuation Declined

Eastman Chemical Company (NYSE:EMN) LogoInvestors sentiment increased to 1.22 in Q1 2019. Its up 0.45, from 0.77 in 2018Q4. It improved, as 46 investors sold EMN shares while 162 reduced holdings. 74 funds opened positions while 179 raised stakes. 113.03 million shares or 0.22% more from 112.79 million shares in 2018Q4 were reported. Murphy Management holds 0.08% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 6,715 shares. Fmr Limited Co reported 607,633 shares stake. Quantitative Investment Mngmt Llc holds 0.05% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 11,600 shares. Argyle Mgmt Inc holds 0.1% or 3,400 shares in its portfolio. 585,285 were accumulated by Sumitomo Mitsui Trust Hldg Incorporated. Wright Ser Inc reported 0.1% in Eastman Chemical Company (NYSE:EMN). Agf Investments Incorporated holds 0.03% or 29,684 shares. Two Sigma Secs Ltd Co holds 6,076 shares. Jefferies Gp owns 35,526 shares. Balyasny Asset Mngmt Ltd Liability Company holds 0.06% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 113,795 shares. Pathstone Family Office Lc, New Jersey-based fund reported 4,725 shares. 221,332 are owned by Gotham Asset Mgmt Limited Liability Corporation. Icon Advisers invested in 22,300 shares. 42,795 were reported by Sei Invests Com. Riverhead Capital Mngmt Lc invested in 22,479 shares or 0.07% of the stock.

Pnc Financial Services Group Inc decreased its stake in Eastman Chemical Co (EMN) by 5.85% based on its latest 2019Q1 regulatory filing with the SEC. Pnc Financial Services Group Inc sold 46,312 shares as the company’s stock declined 4.07% . The institutional investor held 745,163 shares of the major chemicals company at the end of 2019Q1, valued at $56.55M, down from 791,475 at the end of the previous reported quarter. Pnc Financial Services Group Inc who had been investing in Eastman Chemical Co for a number of months, seems to be less bullish one the $8.80B market cap company. The stock increased 0.90% or $0.57 during the last trading session, reaching $64.25. About 1.46 million shares traded or 31.33% up from the average. Eastman Chemical Company (NYSE:EMN) has declined 25.68% since August 15, 2018 and is downtrending. It has underperformed by 25.68% the S&P500.

Pnc Financial Services Group Inc, which manages about $99.87 billion US Long portfolio, upped its stake in Helen Of Troy Corp Ltd (NASDAQ:HELE) by 59,976 shares to 256,725 shares, valued at $29.77M in 2019Q1, according to the filing. It also increased its holding in Integer Hldgs Corp by 95,605 shares in the quarter, for a total of 96,670 shares, and has risen its stake in Boeing Co (NYSE:BA).

Analysts await Eastman Chemical Company (NYSE:EMN) to report earnings on October, 24. They expect $2.58 EPS, up 10.26 % or $0.24 from last year’s $2.34 per share. EMN’s profit will be $353.45M for 6.23 P/E if the $2.58 EPS becomes a reality. After $1.99 actual EPS reported by Eastman Chemical Company for the previous quarter, Wall Street now forecasts 29.65 % EPS growth.

More notable recent Eastman Chemical Company (NYSE:EMN) news were published by: Bizjournals.com which released: “Forbes: Nashville is home to four of the world’s biggest public companies – Nashville Business Journal” on May 21, 2019, also Benzinga.com with their article: “Eastman To Acquire Yarn Producer INACSA – Benzinga” published on June 20, 2019, Finance.Yahoo.com published: “How Financially Strong Is Eastman Chemical Company (NYSE:EMN)? – Yahoo Finance” on June 26, 2019. More interesting news about Eastman Chemical Company (NYSE:EMN) were released by: Prnewswire.com and their article: “Eastman offers second innovative recycling solution to global plastic waste problem – PRNewswire” published on April 03, 2019 as well as Finance.Yahoo.com‘s news article titled: “The NL Industries (NYSE:NL) Share Price Is Down 60% So Some Shareholders Are Wishing They Sold – Yahoo Finance” with publication date: June 22, 2019.

Eastman Chemical Company (NYSE:EMN) Ratings Coverage

Among 3 analysts covering Eastman Chemical (NYSE:EMN), 2 have Buy rating, 0 Sell and 1 Hold. Therefore 67% are positive. Eastman Chemical has $94 highest and $8000 lowest target. $86.33’s average target is 34.37% above currents $64.25 stock price. Eastman Chemical had 7 analyst reports since February 21, 2019 according to SRatingsIntel. Nomura upgraded it to “Buy” rating and $93 target in Monday, April 15 report. The stock has “Neutral” rating by JP Morgan on Monday, July 29. The stock of Eastman Chemical Company (NYSE:EMN) earned “Buy” rating by Nomura on Monday, July 29. The firm has “Overweight” rating given on Friday, April 12 by KeyBanc Capital Markets.

Eastman Chemical Company (NYSE:EMN) Institutional Positions Chart

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