Eastman Chemical (NYSE:EMN) Shares Acquired by D.A. Davidson & CO.

D.A. Davidson & CO. increased its position in Eastman Chemical (NYSE:EMN) by 3.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,108 shares of the basic materials company’s stock after acquiring an additional 1,160 shares during the period. D.A. Davidson & CO.’s holdings in Eastman Chemical were worth $4,042,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Wolff Wiese Magana LLC grew its holdings in shares of Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical in the 2nd quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the 3rd quarter worth approximately $38,000. Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical in the 2nd quarter worth approximately $38,000. Finally, Friedenthal Financial acquired a new stake in shares of Eastman Chemical in the 2nd quarter worth approximately $49,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.7 %

NYSE:EMN opened at $104.23 on Friday. The business’s 50-day moving average is $106.37 and its two-hundred day moving average is $101.67. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50. The firm has a market capitalization of $12.08 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.81 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 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 analyst estimates of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same period last year, the company posted $1.47 earnings per share. Research analysts predict that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have commented on EMN shares. Bank of America cut Eastman Chemical from a “buy” rating to a “neutral” rating and increased their target price for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Royal Bank of Canada restated a “sector perform” rating and set a $105.00 price objective on shares of Eastman Chemical in a report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft decreased their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $110.00 to $125.00 in a report on Tuesday. Finally, Mizuho raised their price objective on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $112.86.

Insider Activity

In related news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. This represents a 50.30 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,021 shares of company stock worth $1,895,948 over the last ninety days. Corporate 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.