Eastman Chemical (NYSE:EMN) Shares Acquired by Pathstone Holdings LLC

Pathstone Holdings LLC raised its holdings in shares of Eastman Chemical (NYSE:EMN) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,483 shares of the basic materials company’s stock after acquiring an additional 348 shares during the period. Pathstone Holdings LLC’s holdings in Eastman Chemical were worth $1,846,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Price T Rowe Associates Inc. MD boosted its stake in Eastman Chemical by 0.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 159,474 shares of the basic materials company’s stock worth $15,983,000 after purchasing an additional 750 shares during the last quarter. Public Employees Retirement System of Ohio boosted its stake in Eastman Chemical by 2.5% during the 1st quarter. Public Employees Retirement System of Ohio now owns 50,934 shares of the basic materials company’s stock worth $5,105,000 after purchasing an additional 1,245 shares during the last quarter. SVB Wealth LLC acquired a new stake in Eastman Chemical during the 1st quarter worth $212,000. B. Riley Wealth Advisors Inc. boosted its stake in Eastman Chemical by 63.1% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,344 shares of the basic materials company’s stock worth $435,000 after purchasing an additional 1,680 shares during the last quarter. Finally, Tidal Investments LLC boosted its stake in Eastman Chemical by 31.3% during the 1st quarter. Tidal Investments LLC now owns 7,468 shares of the basic materials company’s stock worth $748,000 after purchasing an additional 1,780 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EMN. Royal Bank of Canada reissued a “sector perform” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Friday, November 22nd. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $125.00 in a research report on Tuesday. Mizuho boosted their price target on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price target for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, Eastman Chemical presently has a consensus rating of “Hold” and an average target price of $112.86.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $104.22 on Thursday. The firm has a market capitalization of $12.08 billion, a P/E ratio of 13.95, a P/E/G ratio of 0.81 and a beta of 1.44. Eastman Chemical has a 52 week low of $80.71 and a 52 week high of $114.50. 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 moving average is $106.42 and its two-hundred day moving average is $101.65.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.47 earnings per share. Research analysts forecast that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Insider Buying and Selling

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock valued at $1,895,948 over the last three months. 2.28% of the stock is currently owned by company insiders.

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.