Nisa Investment Advisors LLC Has $7.29 Million Holdings in Eastman Chemical (NYSE:EMN)

Nisa Investment Advisors LLC lessened its stake in Eastman Chemical (NYSE:EMN) by 5.7% in the third quarter, Holdings Channel reports. The firm owned 64,683 shares of the basic materials company’s stock after selling 3,925 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Eastman Chemical were worth $7,294,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of EMN. Cultivar Capital Inc. acquired a new position in Eastman Chemical during the second quarter worth about $29,000. Wolff Wiese Magana LLC raised its stake in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Eastman Chemical during the first quarter worth about $38,000. Rothschild Investment LLC acquired a new position in Eastman Chemical during the second quarter worth about $38,000. Finally, Northwest Investment Counselors LLC acquired a new position in Eastman Chemical during the third quarter worth about $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on EMN shares. Royal Bank of Canada boosted their target price on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research note on Friday, October 11th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Barclays upped their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and upped their price objective for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $111.64.

Eastman Chemical Stock Performance

NYSE:EMN opened at $104.99 on Thursday. The company has a market capitalization of $12.35 billion, a PE ratio of 13.53, a P/E/G ratio of 0.81 and a beta of 1.44. The company has a 50 day simple moving average of $105.54 and a two-hundred day simple moving average of $100.89. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. Eastman Chemical has a fifty-two week low of $72.87 and a fifty-two week high of $114.50.

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.