CWA Asset Management Group LLC Takes $558,000 Position in Eastman Chemical (NYSE:EMN)

CWA Asset Management Group LLC acquired a new position in Eastman Chemical (NYSE:EMN) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,984 shares of the basic materials company’s stock, valued at approximately $558,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMN. Cultivar Capital Inc. purchased a new stake in shares of Eastman Chemical in the second quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its position in 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 buying an additional 200 shares in the last quarter. EntryPoint Capital LLC purchased a new stake in Eastman Chemical in the 1st quarter worth approximately $38,000. Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical during the 2nd quarter valued at $38,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Eastman Chemical during the 3rd quarter valued at $38,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

EMN has been the subject of a number of recent research reports. Royal Bank of Canada cut their price target on 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. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their target price for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research note on Tuesday, July 30th. Mizuho lifted their price objective 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. Finally, Wells Fargo & Company lowered their target price on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday, November 4th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to 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 0.9 %

Shares of NYSE:EMN opened at $102.37 on Tuesday. Eastman Chemical has a 52-week low of $76.28 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.71 and a current ratio of 1.52. The company has a market capitalization of $11.87 billion, a P/E ratio of 13.70, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a 50-day simple moving average of $105.89 and a 200 day simple moving average of $101.28.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. The firm had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business’s revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.47 EPS. Sell-side analysts forecast that Eastman Chemical will post 7.62 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.93% of the stock is currently owned by company insiders.

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.