1,955 Shares in Eastman Chemical (NYSE:EMN) Bought by Holistic Financial Partners

Holistic Financial Partners bought a new position in shares of Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 1,955 shares of the basic materials company’s stock, valued at approximately $219,000.

A number of other institutional investors have also added to or reduced their stakes in the business. Bessemer Group Inc. increased its position in shares of Eastman Chemical by 321.2% in the first quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company’s stock worth $1,628,000 after purchasing an additional 12,392 shares during the last quarter. Dakota Wealth Management raised its position in shares of Eastman Chemical by 13.5% during the 2nd quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock valued at $2,183,000 after buying an additional 2,655 shares in the last quarter. Cetera Advisors LLC lifted its holdings in shares of Eastman Chemical by 119.7% during the 1st quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company’s stock worth $1,011,000 after acquiring an additional 5,496 shares during the last quarter. Comerica Bank grew its position in Eastman Chemical by 18.5% in the first quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock worth $3,939,000 after acquiring an additional 6,126 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. increased its stake in Eastman Chemical by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 161,931 shares of the basic materials company’s stock valued at $16,229,000 after acquiring an additional 15,859 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Piper Sandler reaffirmed a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research note on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft dropped their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Royal Bank of Canada reduced their price target on shares of Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating on the stock in a research report on Wednesday, November 6th. Bank of America lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Finally, StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Thursday. 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.com, Eastman Chemical currently has a consensus rating of “Hold” and a consensus price target of $111.50.

Eastman Chemical Trading Up 0.9 %

Eastman Chemical stock opened at $101.61 on Monday. Eastman Chemical has a 12 month low of $80.14 and a 12 month high of $114.50. The company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The business’s fifty day simple moving average is $106.07 and its two-hundred day simple moving average is $101.43. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

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

Insider Activity at Eastman Chemical

In other news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.93% of the stock is currently owned by insiders.

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.