Hantz Financial Services Inc. Cuts Stock Holdings in Eastman Chemical (NYSE:EMN)

Hantz Financial Services Inc. lowered its stake in Eastman Chemical (NYSE:EMN) by 1.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 39,144 shares of the basic materials company’s stock after selling 457 shares during the period. Hantz Financial Services Inc.’s holdings in Eastman Chemical were worth $4,382,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Public Sector Pension Investment Board lifted its position in Eastman Chemical by 11.2% in the third quarter. Public Sector Pension Investment Board now owns 4,951 shares of the basic materials company’s stock valued at $554,000 after purchasing an additional 500 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Eastman Chemical by 3.2% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,587 shares of the basic materials company’s stock valued at $7,007,000 after buying an additional 1,940 shares during the last quarter. CreativeOne Wealth LLC purchased a new stake in Eastman Chemical during the 3rd quarter valued at $219,000. Glenmede Trust Co. NA grew its holdings in Eastman Chemical by 5.2% in the 3rd quarter. Glenmede Trust Co. NA now owns 21,193 shares of the basic materials company’s stock worth $2,373,000 after acquiring an additional 1,042 shares during the last quarter. Finally, Bridgewater Associates LP increased its position in shares of Eastman Chemical by 31.5% in the third quarter. Bridgewater Associates LP now owns 118,245 shares of the basic materials company’s stock valued at $13,238,000 after acquiring an additional 28,328 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $104.72 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The company has a 50 day simple moving average of $106.29 and a two-hundred day simple moving average of $101.68. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50. The company has a market capitalization of $12.14 billion, a price-to-earnings ratio of 14.02, a P/E/G ratio of 0.83 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last posted its quarterly 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 firm 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 quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.47 EPS. Analysts expect that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have recently weighed in on EMN. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $125.00 in a report on Tuesday. Royal Bank of Canada reiterated a “sector perform” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research report on Friday, November 22nd. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and upped their target price for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. StockNews.com cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, November 25th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $112.86.

Insider Buying and Selling

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This represents a 18.18 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. This represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,021 shares of company stock worth $1,895,948 in the last quarter. Corporate insiders own 1.93% of the company’s stock.

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.