1,971 Shares in Eastman Chemical (NYSE:EMN) Acquired by Haverford Trust Co

Haverford Trust Co purchased a new stake in shares of Eastman Chemical (NYSE:EMN) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 1,971 shares of the basic materials company’s stock, valued at approximately $221,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMN. Cultivar Capital Inc. purchased a new stake in Eastman Chemical in the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC boosted its holdings in Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. EntryPoint Capital LLC purchased a new position in Eastman Chemical during the 1st quarter valued at $38,000. Rothschild Investment LLC bought a new position in Eastman Chemical in the 2nd quarter worth $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Eastman Chemical in the 3rd quarter worth about $38,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Up 0.0 %

Eastman Chemical stock opened at $100.78 on Friday. The firm has a market cap of $11.68 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.77 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. Eastman Chemical has a 12 month low of $79.50 and a 12 month high of $114.50. The stock has a fifty day simple moving average of $105.98 and a two-hundred day simple moving average of $101.30.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates 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%. Eastman Chemical’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 EPS. Equities analysts predict that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Royal Bank of Canada lowered their target price 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. Barclays upped their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $111.50.

Insider Buying and Selling

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the firm’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 transaction, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This trade represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.93% of the stock is currently owned by corporate 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.