Blackhawk Capital Partners LLC. Raises Stock Position in Eastman Chemical (NYSE:EMN)

Blackhawk Capital Partners LLC. lifted its stake in shares of Eastman Chemical (NYSE:EMN) by 18.9% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,580 shares of the basic materials company’s stock after acquiring an additional 410 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Eastman Chemical were worth $289,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Capital Research Global Investors boosted its stake in shares of Eastman Chemical by 649.8% during the first quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock valued at $452,139,000 after purchasing an additional 3,909,740 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Eastman Chemical by 3.2% during 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 purchasing an additional 83,504 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake 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 valued at $223,435,000 after purchasing an additional 198,645 shares in the last quarter. Earnest Partners LLC boosted its stake 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 valued at $219,454,000 after purchasing an additional 40,070 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake 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 valued at $119,569,000 after purchasing an additional 7,847 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on EMN. Wells Fargo & Company dropped their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and raised their target price for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. 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. Royal Bank of Canada lowered their target price 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. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday, November 14th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of “Hold” and an average price target of $111.50.

Eastman Chemical Trading Up 0.0 %

Shares of Eastman Chemical stock opened at $101.37 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The firm has a fifty day moving average price of $106.30 and a 200 day moving average price of $101.51. Eastman Chemical has a 1 year low of $80.71 and a 1 year high of $114.50. The stock has a market cap of $11.75 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

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, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the previous year, the company earned $1.47 earnings per share. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Equities research analysts predict that Eastman Chemical will post 7.63 earnings per share for the current year.

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.