Thrivent Financial for Lutherans Grows Stock Holdings in Eastman Chemical (NYSE:EMN)

Thrivent Financial for Lutherans lifted its position in Eastman Chemical (NYSE:EMN) by 15.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 947,473 shares of the basic materials company’s stock after buying an additional 126,301 shares during the period. Thrivent Financial for Lutherans owned approximately 0.82% of Eastman Chemical worth $106,070,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Bessemer Group Inc. boosted its stake in Eastman Chemical by 321.2% in the first quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company’s stock valued at $1,628,000 after acquiring an additional 12,392 shares in the last quarter. Dakota Wealth Management boosted its position in shares of Eastman Chemical by 13.5% in the 2nd quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock worth $2,183,000 after purchasing an additional 2,655 shares in the last quarter. Cetera Advisors LLC grew its stake in Eastman Chemical by 119.7% during the 1st quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company’s stock worth $1,011,000 after buying an additional 5,496 shares during the last quarter. Comerica Bank increased its position in Eastman Chemical by 18.5% during the 1st quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock valued at $3,939,000 after buying an additional 6,126 shares in the last quarter. Finally, Jacobs Levy Equity Management Inc. raised its stake in Eastman Chemical by 10.9% in the first quarter. Jacobs Levy Equity Management Inc. now owns 161,931 shares of the basic materials company’s stock valued at $16,229,000 after buying an additional 15,859 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.9 %

Eastman Chemical stock opened at $101.61 on Monday. The business’s 50-day moving average price is $106.07 and its 200 day moving average price is $101.43. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The firm has a market cap of $11.78 billion, a price-to-earnings ratio of 13.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 52 week low of $80.14 and a 52 week high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter last year, the company earned $1.47 EPS. The business’s revenue was up 8.7% on a year-over-year basis. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EMN. Deutsche Bank Aktiengesellschaft dropped their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company decreased their price target on shares of Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a report on Monday, November 4th. 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 report on Monday, July 29th. Finally, Piper Sandler restated a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $111.50.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 approximately $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.93% of the stock is 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.