WCM Investment Management LLC bought a new stake in Eastman Chemical (NYSE:EMN – Free Report) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 3,330 shares of the basic materials company’s stock, valued at approximately $374,000.
Several other institutional investors also recently added to or reduced their stakes in EMN. Bessemer Group Inc. increased its position in Eastman Chemical by 321.2% during the first quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company’s stock worth $1,628,000 after acquiring an additional 12,392 shares during the period. Empowered Funds LLC acquired a new position in shares of Eastman Chemical during the first quarter valued at about $594,000. Dakota Wealth Management lifted its stake in shares of Eastman Chemical by 13.5% in the second quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock valued at $2,183,000 after buying an additional 2,655 shares during the period. Cetera Advisors LLC grew its position in Eastman Chemical by 119.7% during the first 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 in the last quarter. Finally, Comerica Bank increased its stake in Eastman Chemical by 18.5% during the first quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock valued at $3,939,000 after acquiring an additional 6,126 shares during the period. 83.65% of the stock is owned by institutional investors.
Eastman Chemical Stock Performance
Shares of NYSE:EMN opened at $100.52 on Wednesday. The business has a fifty day moving average of $105.89 and a 200-day moving average of $101.31. The firm has a market cap of $11.65 billion, a PE ratio of 13.46, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.71 and a current ratio of 1.52. Eastman Chemical has a twelve month low of $76.28 and a twelve month high of $114.50.
Analyst Upgrades and Downgrades
EMN has been the topic of several recent research reports. 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. Bank of America lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price target for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Piper Sandler reaffirmed a “neutral” rating and set a $105.00 price objective on shares of Eastman Chemical in a report on Tuesday, July 30th. Mizuho raised their price target on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research note on Friday, November 1st. Finally, StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Wednesday, November 6th. Nine investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus price target of $111.50.
Read Our Latest Research Report on EMN
Insider Buying and Selling
In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the company’s 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 transaction, the senior vice president now directly owns 12,366 shares in the company, valued at approximately $1,298,430. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 1.93% of the company’s stock.
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.
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