As Eastman Chemical Co (EMN) Valuation Declined, Shareholder Pnc Financial Services Group INC Has Trimmed Its Stake by $3.47 Million

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. Cap Advisors Ltd Liability Co invested in 120 shares or 0% of the stock. 88,268 were reported by Marshall Wace Llp. First Midwest State Bank Division invested in 8,215 shares or 0.08% of the stock. Tarbox Family Office Inc invested 0% in Eastman Chemical Company (NYSE:EMN). Amundi Pioneer Asset Management reported 293,583 shares stake. Fort Ltd Partnership has 0.09% invested in Eastman Chemical Company (NYSE:EMN). Montag A holds 0.23% in Eastman Chemical Company (NYSE:EMN) or 33,200 shares. Moody Retail Bank Trust Division stated it has 0% of its portfolio in Eastman Chemical Company (NYSE:EMN). Channing Management Limited reported 0.04% of its portfolio in Eastman Chemical Company (NYSE:EMN). Profund Limited Liability Corp has 0.02% invested in Eastman Chemical Company (NYSE:EMN) for 5,125 shares. Moreover, Engineers Gate Manager Limited Partnership has 0.26% invested in Eastman Chemical Company (NYSE:EMN) for 55,517 shares. Smith Asset Mngmt Gp Lp has 0% invested in Eastman Chemical Company (NYSE:EMN). Australia-based Macquarie Gp Ltd has invested 0.01% in Eastman Chemical Company (NYSE:EMN). Heritage Wealth Advsr holds 23 shares. Horizon Limited Liability Company accumulated 0.01% or 2,747 shares.

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 $8.80 billion market cap company. The stock increased 0.90% or $0.57 during the last trading session, reaching $64.25. About 1.46M 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 Vanguard Intl Equity Index F (VWO) by 106,902 shares to 9.80 million shares, valued at $416.57M in 2019Q1, according to the filing. It also increased its holding in Sprouts Fmrs Mkt Inc (NASDAQ:SFM) by 194,061 shares in the quarter, for a total of 198,376 shares, and has risen its stake in Ishares Tr (EEM).

Analysts await Eastman Chemical Company (NYSE:EMN) to report earnings on October, 24. They expect $2.58 earnings per share, 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 earnings per share 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: Finance.Yahoo.com which released: “Should You Think About Buying Eastman Chemical Company (NYSE:EMN) Now? – Yahoo Finance” on July 12, 2019, also Seekingalpha.com with their article: “Eastman Chemical Company 2019 Q1 – Results – Earnings Call Slides – Seeking Alpha” published on April 26, 2019, Globenewswire.com published: “Eastman Announces Second-Quarter 2019 Financial Results – GlobeNewswire” on July 25, 2019. More interesting news about Eastman Chemical Company (NYSE:EMN) were released by: Seekingalpha.com and their article: “Stocks To Watch: Favorable Trade Winds? – Seeking Alpha” published on December 01, 2018 as well as Globenewswire.com‘s news article titled: “Eastman Named One of the World’s Most Ethical Companies┬« by Ethisphere for the Sixth Time – GlobeNewswire” with publication date: February 26, 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. The stock of Eastman Chemical Company (NYSE:EMN) earned “Neutral” rating by JP Morgan on Monday, July 29. As per Monday, July 29, the company rating was maintained by Nomura. The firm has “Buy” rating given on Monday, April 15 by Nomura. KeyBanc Capital Markets maintained it with “Overweight” rating and $94 target in Friday, April 12 report.

Eastman Chemical Company (NYSE:EMN) Institutional Positions Chart

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