B. Metzler seel. Sohn & Co. Holding AG Purchases New Stake in Eastman Chemical (NYSE:EMN)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Eastman Chemical (NYSE:EMN) in the 3rd quarter, Holdings Channel reports. The firm acquired 2,803 shares of the basic materials company’s stock, valued at approximately $314,000.

Other hedge funds have also made changes to their positions in the company. Wolff Wiese Magana LLC lifted its stake in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new position in shares of Eastman Chemical during the 2nd quarter valued at approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the third quarter worth approximately $38,000. EntryPoint Capital LLC bought a new stake in shares of Eastman Chemical in the first quarter worth $38,000. Finally, Rothschild Investment LLC acquired a new stake in Eastman Chemical in the second quarter valued at $38,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.93% of the stock is currently owned by insiders.

Eastman Chemical Stock Up 1.9 %

EMN stock opened at $105.59 on Monday. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The firm’s 50-day simple moving average is $106.43 and its 200 day simple moving average is $101.59. The stock has a market cap of $12.24 billion, a PE ratio of 14.14, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business’s revenue for the quarter was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.47 earnings per share. As a group, sell-side analysts predict that Eastman Chemical will post 7.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on EMN. Wells Fargo & Company decreased their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Mizuho increased their target price on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Thursday, November 14th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $105.00 price objective on shares of Eastman Chemical in a research note on Friday. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $111.50.

Eastman Chemical Company Profile

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.