Amalgamated Bank Sells 15,109 Shares of Eastman Chemical (NYSE:EMN)

Amalgamated Bank lessened its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 39.7% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 22,972 shares of the basic materials company's stock after selling 15,109 shares during the quarter. Amalgamated Bank's holdings in Eastman Chemical were worth $2,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors also recently added to or reduced their stakes in the company. Bessemer Group Inc. raised its position in Eastman Chemical by 321.2% in the 1st quarter. Bessemer Group Inc. now owns 16,250 shares of the basic materials company's stock worth $1,628,000 after purchasing an additional 12,392 shares during the period. Empowered Funds LLC bought a new stake in Eastman Chemical in the 1st quarter worth $594,000. Dakota Wealth Management grew its holdings in 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 acquiring an additional 2,655 shares during the last quarter. Cetera Advisors LLC grew its holdings in Eastman Chemical by 119.7% in the 1st quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company's stock worth $1,011,000 after acquiring an additional 5,496 shares during the last quarter. Finally, Comerica Bank grew its holdings in Eastman Chemical by 18.5% in the 1st quarter. Comerica Bank now owns 39,306 shares of the basic materials company's stock worth $3,939,000 after acquiring an additional 6,126 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of recent analyst reports. StockNews.com lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a report on Wednesday, November 6th. Royal Bank of Canada cut their target price on shares of Eastman Chemical from $107.00 to $105.00 and set a "sector perform" rating on the stock in a research note on Wednesday, November 6th. Mizuho lifted their target price on shares of Eastman Chemical from $107.00 to $113.00 and gave the company a "neutral" rating in a research note on Friday, November 1st. Wells Fargo & Company cut their target price on shares of Eastman Chemical from $118.00 to $110.00 and set an "equal weight" rating on the stock in a research note on Monday, November 4th. Finally, Barclays lifted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an "equal weight" rating in a research note on Monday, July 29th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to MarketBeat, Eastman Chemical presently has an average rating of "Hold" and a consensus price target of $111.50.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction that occurred 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 represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.93% of the stock is currently owned by company insiders.

Eastman Chemical Stock Up 0.9 %

NYSE EMN traded up $0.90 during trading hours on Monday, reaching $102.37. 1,005,546 shares of the company's stock traded hands, compared to its average volume of 952,593. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.71. The firm has a market cap of $11.87 billion, a PE ratio of 13.70, a PEG ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 52-week low of $76.28 and a 52-week high of $114.50. The firm has a 50-day simple moving average of $105.89 and a 200 day simple moving average of $101.28.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its 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 business had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company earned $1.47 earnings per share. Sell-side analysts anticipate that Eastman Chemical will post 7.62 EPS for the current fiscal year.

About Eastman Chemical

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.