Natixis Advisors LLC Increases Holdings in Eastman Chemical (NYSE:EMN)

Natixis Advisors LLC boosted its holdings in shares of Eastman Chemical (NYSE:EMN) by 14.4% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 309,123 shares of the basic materials company’s stock after purchasing an additional 38,926 shares during the period. Natixis Advisors LLC owned about 0.26% of Eastman Chemical worth $34,606,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. UMB Bank n.a. increased its holdings in Eastman Chemical by 4.3% during the 3rd quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 96 shares during the period. V Square Quantitative Management LLC boosted its position in Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its position in Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after acquiring an additional 111 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in Eastman Chemical by 3.3% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after acquiring an additional 111 shares in the last quarter. Finally, Prosperity Consulting Group LLC boosted its position in Eastman Chemical by 4.8% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock valued at $261,000 after acquiring an additional 123 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

EMN stock opened at $101.61 on Monday. The stock has a market capitalization of $11.78 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 12-month low of $80.14 and a 12-month high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The stock’s 50 day simple moving average is $106.07 and its 200 day simple moving average is $101.43.

Eastman Chemical (NYSE:EMN) last announced its 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 business had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.47 EPS. As a group, research analysts forecast that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Deutsche Bank Aktiengesellschaft cut their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada cut their price objective on 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. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday. Bank of America cut Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Finally, Wells Fargo & Company dropped their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical currently has an average rating of “Hold” and a consensus target price of $111.50.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction 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 sale, the senior vice president now directly owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.93% of the company’s stock.

Eastman Chemical 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.