Veritas Investment Management Uk LTD Trimmed Holding in Franco (FNV) by $399,360 as Stock Rose; Federated Investors Has Raised Its Eastman Chem Co (EMN) Holding by $1.56 Million

February 24, 2018 - By Adrian Mccoy

Federated Investors Inc increased its stake in Eastman Chem Co (EMN) by 8.51% based on its latest 2017Q3 regulatory filing with the SEC. Federated Investors Inc bought 17,370 shares as the company’s stock declined 2.09% while stock markets rallied. The institutional investor held 221,375 shares of the major chemicals company at the end of 2017Q3, valued at $20.03M, up from 204,005 at the end of the previous reported quarter. Federated Investors Inc who had been investing in Eastman Chem Co for a number of months, seems to be bullish on the $14.79 billion market cap company. The stock increased 1.90% or $1.93 during the last trading session, reaching $103.44. About 917,777 shares traded. Eastman Chemical Company (NYSE:EMN) has risen 7.60% since February 24, 2017 and is uptrending. It has underperformed by 9.10% the S&P500.

Veritas Investment Management Uk Ltd decreased its stake in Franco (FNV) by 1.69% based on its latest 2017Q3 regulatory filing with the SEC. Veritas Investment Management Uk Ltd sold 4,160 shares as the company’s stock rose 8.53% with the market. The institutional investor held 242,511 shares of the precious metals company at the end of 2017Q3, valued at $23.44M, down from 246,671 at the end of the previous reported quarter. Veritas Investment Management Uk Ltd who had been investing in Franco for a number of months, seems to be less bullish one the $13.62 billion market cap company. The stock increased 1.70% or $1.23 during the last trading session, reaching $73.4. About 567,685 shares traded. Franco-Nevada Corporation (NYSE:FNV) has risen 12.51% since February 24, 2017 and is uptrending. It has underperformed by 4.19% the S&P500.

Analysts await Franco-Nevada Corporation (NYSE:FNV) to report earnings on March, 7 after the close. They expect $0.29 earnings per share, up 20.83% or $0.05 from last year’s $0.24 per share. FNV’s profit will be $53.81 million for 63.28 P/E if the $0.29 EPS becomes a reality. After $0.30 actual earnings per share reported by Franco-Nevada Corporation for the previous quarter, Wall Street now forecasts -3.33% negative EPS growth.

Among 17 analysts covering Franco-Nevada Corp (NYSE:FNV), 7 have Buy rating, 1 Sell and 9 Hold. Therefore 41% are positive. Franco-Nevada Corp had 36 analyst reports since August 11, 2015 according to SRatingsIntel. The stock of Franco-Nevada Corporation (NYSE:FNV) earned “Neutral” rating by JP Morgan on Monday, March 14. The stock of Franco-Nevada Corporation (NYSE:FNV) earned “Hold” rating by Deutsche Bank on Friday, December 11. Goldman Sachs downgraded Franco-Nevada Corporation (NYSE:FNV) on Wednesday, May 11 to “Sell” rating. Barclays Capital upgraded Franco-Nevada Corporation (NYSE:FNV) on Thursday, January 14 to “Equal-Weight” rating. The stock of Franco-Nevada Corporation (NYSE:FNV) earned “Buy” rating by Canaccord Genuity on Tuesday, November 15. The rating was maintained by Scotia Capital with “Hold” on Monday, January 22. Credit Suisse downgraded the stock to “Neutral” rating in Thursday, February 4 report. The stock of Franco-Nevada Corporation (NYSE:FNV) has “Neutral” rating given on Monday, September 25 by Credit Suisse. The company was initiated on Tuesday, February 16 by Clarkson Capital. Goldman Sachs upgraded Franco-Nevada Corporation (NYSE:FNV) on Thursday, February 9 to “Neutral” rating.

Investors sentiment increased to 1.18 in 2017 Q3. Its up 0.04, from 1.14 in 2017Q2. It improved, as 32 investors sold EMN shares while 175 reduced holdings. 67 funds opened positions while 178 raised stakes. 115.86 million shares or 0.58% less from 116.54 million shares in 2017Q2 were reported. Edgemoor Investment Advsr holds 1.14% or 92,779 shares. Brown Brothers Harriman And has invested 0% of its portfolio in Eastman Chemical Company (NYSE:EMN). Community Bank Na holds 0.01% in Eastman Chemical Company (NYSE:EMN) or 792 shares. Mariner Wealth Ltd Com invested in 0.02% or 4,639 shares. Tocqueville Asset Management Ltd Partnership holds 0.29% in Eastman Chemical Company (NYSE:EMN) or 277,235 shares. Shine Advisory Svcs holds 0.02% or 372 shares in its portfolio. Kj Harrison & holds 0.93% or 30,000 shares. Cadence Cap Mgmt Ltd Liability Corp holds 0.13% in Eastman Chemical Company (NYSE:EMN) or 23,033 shares. Cwm holds 6,624 shares or 0.03% of its portfolio. Moreover, Cornerstone Capital Mgmt Hldgs has 0.02% invested in Eastman Chemical Company (NYSE:EMN). 33,302 are owned by Gargoyle Invest Advisor Limited Liability Com. Toronto Dominion Bancorp holds 0.05% of its portfolio in Eastman Chemical Company (NYSE:EMN) for 175,495 shares. Regentatlantic Cap Lc holds 0.07% or 9,133 shares in its portfolio. Glob X Mngmt Co Ltd Llc reported 3,979 shares. Denali Advsr Ltd Liability reported 35,600 shares or 0.53% of all its holdings.

Among 17 analysts covering Eastman Chemical Company (NYSE:EMN), 9 have Buy rating, 2 Sell and 6 Hold. Therefore 53% are positive. Eastman Chemical Company had 57 analyst reports since July 30, 2015 according to SRatingsIntel. The rating was maintained by Cowen & Co on Wednesday, February 7 with “Buy”. The rating was downgraded by Standpoint Research on Tuesday, January 24 to “Hold”. The company was downgraded on Monday, May 2 by CLSA. The rating was maintained by JP Morgan with “Overweight” on Monday, October 30. The stock of Eastman Chemical Company (NYSE:EMN) earned “Outperform” rating by RBC Capital Markets on Wednesday, October 14. RBC Capital Markets maintained Eastman Chemical Company (NYSE:EMN) rating on Tuesday, September 5. RBC Capital Markets has “Hold” rating and $86.0 target. RBC Capital Markets maintained Eastman Chemical Company (NYSE:EMN) on Monday, June 5 with “Hold” rating. The stock of Eastman Chemical Company (NYSE:EMN) has “Overweight” rating given on Monday, November 2 by JP Morgan. The company was downgraded on Tuesday, October 10 by Nomura. The stock has “Buy” rating by KeyBanc Capital Markets on Thursday, August 24.

Federated Investors Inc, which manages about $34.87 billion US Long portfolio, decreased its stake in Goldman Sachs Group Inc (NYSE:GS) by 202,242 shares to 18,627 shares, valued at $4.42M in 2017Q3, according to the filing. It also reduced its holding in Portola Pharmaceuticals Inc (NASDAQ:PTLA) by 16,299 shares in the quarter, leaving it with 67,616 shares, and cut its stake in Microsoft Corp (NASDAQ:MSFT).

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