Eastman Chemical (NYSE:EMN) Shares Acquired by Bridgewater Associates LP

Bridgewater Associates LP boosted its stake in Eastman Chemical (NYSE:EMN - Free Report) by 31.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 118,245 shares of the basic materials company's stock after acquiring an additional 28,328 shares during the quarter. Bridgewater Associates LP owned 0.10% of Eastman Chemical worth $13,238,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD lifted its position in shares of Eastman Chemical by 0.5% in the first quarter. Price T Rowe Associates Inc. MD now owns 159,474 shares of the basic materials company's stock valued at $15,983,000 after acquiring an additional 750 shares in the last quarter. B. Riley Wealth Advisors Inc. lifted its holdings in Eastman Chemical by 63.1% in the 1st quarter. B. Riley Wealth Advisors Inc. now owns 4,344 shares of the basic materials company's stock valued at $435,000 after purchasing an additional 1,680 shares in the last quarter. Tidal Investments LLC boosted its stake in Eastman Chemical by 31.3% during the 1st quarter. Tidal Investments LLC now owns 7,468 shares of the basic materials company's stock worth $748,000 after purchasing an additional 1,780 shares during the last quarter. Comerica Bank grew its holdings in shares of Eastman Chemical by 18.5% during the first quarter. Comerica Bank now owns 39,306 shares of the basic materials company's stock worth $3,939,000 after buying an additional 6,126 shares in the last quarter. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Eastman Chemical in the first quarter valued at about $188,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of research reports. Royal Bank of Canada reissued a "sector perform" rating and issued a $105.00 target price on shares of Eastman Chemical in a research note on Friday, November 22nd. Mizuho boosted their price objective on Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday. Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and raised their target price for the stock from $110.00 to $125.00 in a research note on Tuesday. Bank of America cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and boosted their price target for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Finally, StockNews.com cut shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the 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 at Eastman Chemical

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction on 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 completion of the sale, the executive vice president now directly owns 47,287 shares of the company's stock, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the transaction, the senior vice president now directly owns 12,366 shares in the company, valued at $1,298,430. This trade represents a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,021 shares of company stock valued at $1,895,948 in the last 90 days. Company insiders own 1.93% of the company's stock.

Eastman Chemical Trading Up 0.5 %

Shares of EMN stock traded up $0.49 during trading hours on Friday, hitting $104.72. The company had a trading volume of 498,661 shares, compared to its average volume of 956,347. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The stock has a market capitalization of $12.14 billion, a PE ratio of 13.95, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. The company's fifty day moving average is $106.29 and its 200 day moving average is $101.68. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results 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 return on equity of 15.37% and a net margin of 9.47%. The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period in the prior year, the firm earned $1.47 earnings per share. The firm's revenue was up 8.7% compared to the same quarter last year. Research analysts expect that Eastman Chemical will post 7.63 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.