Natixis Advisors LLC Boosts Stake in Eastman Chemical (NYSE:EMN)

Natixis Advisors LLC lifted its stake in Eastman Chemical (NYSE:EMN) by 14.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 309,123 shares of the basic materials company’s stock after purchasing an additional 38,926 shares during the period. Natixis Advisors LLC’s holdings in Eastman Chemical were worth $34,606,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its holdings in Eastman Chemical by 321.2% in the 1st quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company’s stock worth $1,628,000 after buying an additional 12,392 shares during the period. Dakota Wealth Management boosted its holdings in Eastman Chemical by 13.5% in the 2nd quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock worth $2,183,000 after buying an additional 2,655 shares during the period. Cetera Advisors LLC boosted its holdings in Eastman Chemical by 119.7% in the 1st quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company’s stock worth $1,011,000 after buying an additional 5,496 shares during the period. Comerica Bank boosted its holdings in Eastman Chemical by 18.5% in the 1st quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock worth $3,939,000 after buying an additional 6,126 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Eastman Chemical by 10.9% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 161,931 shares of the basic materials company’s stock worth $16,229,000 after buying an additional 15,859 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.9 %

Shares of NYSE:EMN opened at $101.61 on Monday. 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 has a 12 month low of $80.14 and a 12 month high of $114.50. The company has a 50-day moving average price of $106.07 and a 200 day moving average price of $101.43. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the prior year, the company posted $1.47 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. As a group, equities research analysts predict that Eastman Chemical will post 7.63 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Christopher Moore Killian sold 3,061 shares of the 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 sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at $1,298,430. This represents a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EMN. Barclays upped 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 dropped their price objective on shares of Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. Wells Fargo & Company dropped their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. Finally, Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price objective for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $111.50.

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.