799 Shares in Eastman Chemical (NYSE:EMN) Purchased by Ashton Thomas Securities LLC

Ashton Thomas Securities LLC bought a new stake in Eastman Chemical (NYSE:EMN) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 799 shares of the basic materials company’s stock, valued at approximately $89,000.

A number of other large investors have also recently bought and sold shares of the company. Cultivar Capital Inc. bought a new stake in shares of Eastman Chemical in the second quarter worth $29,000. Wolff Wiese Magana LLC lifted its position in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after buying an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in shares of Eastman Chemical during the 1st quarter worth about $38,000. Rothschild Investment LLC bought a new position in shares of Eastman Chemical in the 2nd quarter valued at about $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the third quarter valued at about $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Activity

In related news, SVP Christopher Moore Killian sold 3,061 shares of the 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 sale, the senior vice president now owns 12,366 shares in the company, valued at approximately $1,298,430. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Trading Down 1.8 %

Shares of NYSE:EMN opened at $100.52 on Wednesday. The business’s 50 day simple moving average is $105.89 and its 200 day simple moving average is $101.31. Eastman Chemical has a 1 year low of $76.28 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.71. The company has a market capitalization of $11.65 billion, a P/E ratio of 13.46, a P/E/G ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the firm posted $1.47 EPS. Eastman Chemical’s quarterly revenue was up 8.7% on a year-over-year basis. On average, research analysts anticipate that Eastman Chemical will post 7.62 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price target for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Barclays boosted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Royal Bank of Canada cut their price target on shares of Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating for the company in a research note on Wednesday, November 6th. StockNews.com lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Wednesday, November 6th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a research note on Friday, November 1st. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price 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.