Pathstone Holdings LLC Increases Stock Holdings in Eastman Chemical (NYSE:EMN)

Pathstone Holdings LLC grew its position in Eastman Chemical (NYSE:EMN) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,483 shares of the basic materials company’s stock after buying an additional 348 shares during the quarter. Pathstone Holdings LLC’s holdings in Eastman Chemical were worth $1,846,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in EMN. Dakota Wealth Management boosted its stake 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 last quarter. KBC Group NV boosted its stake in Eastman Chemical by 21.8% in the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after buying an additional 19,809 shares during the last quarter. Principal Financial Group Inc. boosted its stake in Eastman Chemical by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock worth $16,588,000 after buying an additional 9,447 shares during the last quarter. Cetera Advisors LLC boosted its stake 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 last quarter. Finally, Comerica Bank boosted its stake 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 last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on EMN shares. StockNews.com lowered Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho lifted their price objective on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft reduced their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $110.00 to $125.00 in a research note on Tuesday. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $112.86.

Insider Activity

In other news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction 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 directly 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 this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the sale, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock worth $1,895,948 over the last 90 days. 2.28% of the stock is currently owned by company insiders.

Eastman Chemical Trading Down 0.7 %

Shares of EMN stock opened at $104.22 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a 1 year low of $80.71 and a 1 year high of $114.50. The stock has a fifty day moving average of $106.42 and a two-hundred day moving average of $101.65. 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 announced its quarterly earnings data 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 business had revenue of $2.46 billion during 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 company’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.47 earnings per share. As a group, research analysts expect that Eastman Chemical will post 7.63 EPS for the current year.

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.