Chicago Partners Investment Group LLC Purchases 216 Shares of Eastman Chemical (NYSE:EMN)

Chicago Partners Investment Group LLC boosted its position in Eastman Chemical (NYSE:EMN) by 9.9% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 2,399 shares of the basic materials company’s stock after acquiring an additional 216 shares during the period. Chicago Partners Investment Group LLC’s holdings in Eastman Chemical were worth $257,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in EMN. UMB Bank n.a. raised its position in shares of Eastman Chemical by 4.3% in the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 96 shares during the period. V Square Quantitative Management LLC raised its holdings in Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares during the period. Lcnb Corp lifted its position in shares of Eastman Chemical by 1.7% during the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after acquiring an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC boosted its holdings in shares of Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 111 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its position in shares of Eastman Chemical by 3.3% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 111 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EMN. Royal Bank of Canada increased their price objective on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Barclays boosted their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Mizuho raised their price target on shares of Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a report on Friday, November 1st. Finally, Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and upped their price target for the stock 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, Eastman Chemical has a consensus rating of “Hold” and an average price target of $111.64.

Eastman Chemical Price Performance

EMN opened at $100.88 on Wednesday. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. The stock has a market capitalization of $11.79 billion, a P/E ratio of 13.50, a PEG ratio of 0.77 and a beta of 1.44. The stock has a 50-day moving average price of $105.78 and a 200-day moving average price of $101.10. Eastman Chemical has a 12-month low of $75.01 and a 12-month high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping 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 15.45% and a net margin of 9.47%. Eastman Chemical’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.47 earnings per share. Equities analysts predict that Eastman Chemical will post 7.61 earnings per share for the current fiscal year.

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.