Bayforest Capital Ltd Grows Stock Holdings in Eastman Chemical Company (NYSE:EMN)

Bayforest Capital Ltd lifted its stake in Eastman Chemical Company (NYSE:EMN) by 1,282.4% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 4,700 shares of the basic materials company’s stock after purchasing an additional 4,360 shares during the quarter. Bayforest Capital Ltd’s holdings in Eastman Chemical were worth $414,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC raised its holdings in shares of Eastman Chemical by 4.5% during the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 143 shares during the period. Prudent Man Advisors LLC grew its stake in shares of Eastman Chemical by 2.2% in the 1st quarter. Prudent Man Advisors LLC now owns 6,651 shares of the basic materials company’s stock valued at $586,000 after buying an additional 144 shares during the period. Burney Co. increased its holdings in shares of Eastman Chemical by 0.9% during the 1st quarter. Burney Co. now owns 18,083 shares of the basic materials company’s stock worth $1,593,000 after buying an additional 154 shares during the last quarter. Roman Butler Fullerton & Co. lifted its holdings in Eastman Chemical by 6.1% in the first quarter. Roman Butler Fullerton & Co. now owns 2,864 shares of the basic materials company’s stock valued at $252,000 after acquiring an additional 164 shares during the last quarter. Finally, Goelzer Investment Management Inc. increased its stake in Eastman Chemical by 0.5% during the first quarter. Goelzer Investment Management Inc. now owns 36,505 shares of the basic materials company’s stock worth $3,216,000 after acquiring an additional 164 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on EMN shares. Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 target price for the company in a research note on Thursday, April 3rd. The Goldman Sachs Group cut their price objective on Eastman Chemical from $112.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. Wall Street Zen cut Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Morgan Stanley cut their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Finally, Wells Fargo & Company lowered their price objective on shares of Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $97.08.

Eastman Chemical Stock Down 3.2%

Shares of NYSE:EMN opened at $73.41 on Thursday. Eastman Chemical Company has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The firm’s 50 day moving average price is $78.48 and its 200 day moving average price is $85.00. The company has a quick ratio of 0.79, a current ratio of 1.72 and a debt-to-equity ratio of 0.80. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of 9.34, a price-to-earnings-growth ratio of 2.18 and a beta of 1.22.

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.