Eastman Chemical (NYSE:EMN) Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Eastman Chemical (NYSE:EMN) by 45.5% during the 3rd quarter, Holdings Channel reports. The fund owned 12,360 shares of the basic materials company’s stock after acquiring an additional 3,866 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Eastman Chemical were worth $1,389,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC raised its stake in shares of Eastman Chemical by 25.6% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 15,699 shares of the basic materials company’s stock valued at $1,573,000 after purchasing an additional 3,196 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Eastman Chemical by 17.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 9,886 shares of the basic materials company’s stock worth $991,000 after buying an additional 1,462 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Eastman Chemical by 4.4% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 340,783 shares of the basic materials company’s stock worth $34,153,000 after purchasing an additional 14,419 shares during the period. Norden Group LLC purchased a new position in Eastman Chemical during the 1st quarter worth approximately $300,000. Finally, Van ECK Associates Corp raised its stake in Eastman Chemical by 31.5% during the 1st quarter. Van ECK Associates Corp now owns 48,276 shares of the basic materials company’s stock valued at $4,838,000 after purchasing an additional 11,569 shares during the period. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EMN. Mizuho lifted their price target on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 26th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Royal Bank of Canada raised their price target on shares of Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Barclays upped their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $111.64.

Eastman Chemical Trading Up 0.2 %

NYSE:EMN opened at $105.17 on Friday. The company’s 50 day moving average is $105.66 and its 200-day moving average is $100.92. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 12 month low of $72.87 and a 12 month high of $114.50. The firm has a market cap of $12.37 billion, a price-to-earnings ratio of 13.55, a P/E/G ratio of 0.81 and a beta of 1.44.

About Eastman Chemical

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.