D.A. Davidson & CO. Has $4.04 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

D.A. Davidson & CO. increased its holdings in Eastman Chemical (NYSE:EMN) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 36,108 shares of the basic materials company’s stock after buying an additional 1,160 shares during the quarter. D.A. Davidson & CO.’s holdings in Eastman Chemical were worth $4,042,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its stake in Eastman Chemical by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock valued at $306,093,000 after acquiring an additional 83,504 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Eastman Chemical by 9.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,280,699 shares of the basic materials company’s stock worth $223,435,000 after purchasing an additional 198,645 shares in the last quarter. Earnest Partners LLC boosted its position in shares of Eastman Chemical by 1.8% during the second quarter. Earnest Partners LLC now owns 2,240,013 shares of the basic materials company’s stock worth $219,454,000 after purchasing an additional 40,070 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Eastman Chemical by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 1,220,463 shares of the basic materials company’s stock worth $119,569,000 after purchasing an additional 7,847 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its position in shares of Eastman Chemical by 15.4% during the third quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock worth $106,070,000 after purchasing an additional 126,301 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of 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 reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research report on Friday, November 22nd. Mizuho boosted their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday. StockNews.com cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $112.86.

Eastman Chemical Stock Down 0.7 %

Shares of EMN stock opened at $104.23 on Friday. The firm has a market capitalization of $12.08 billion, a P/E ratio of 13.95, a PEG ratio of 0.81 and a beta of 1.44. The firm’s fifty day moving average price is $106.37 and its two-hundred day moving average price is $101.67. Eastman Chemical has a 1 year low of $80.71 and a 1 year 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.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. The company had revenue of $2.46 billion for 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%. Eastman Chemical’s revenue for the quarter 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. On average, equities analysts predict that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Insider Transactions at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical 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 completion of the sale, the senior vice president now owns 12,366 shares of the company’s stock, 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 SEC, which is accessible through the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at $466,013.52. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,021 shares of company stock worth $1,895,948 in the last ninety days. Insiders own 2.28% 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.