Icon Wealth Advisors LLC Purchases 14,329 Shares of Eastman Chemical (NYSE:EMN)

Icon Wealth Advisors LLC lifted its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 1,441.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 15,323 shares of the basic materials company's stock after purchasing an additional 14,329 shares during the period. Icon Wealth Advisors LLC's holdings in Eastman Chemical were worth $1,715,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Assenagon Asset Management S.A. increased its stake in Eastman Chemical by 1,104.3% during the third quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company's stock valued at $104,560,000 after acquiring an additional 856,432 shares during the period. Truist Financial Corp grew its holdings in shares of Eastman Chemical by 201.5% during the 2nd quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company's stock worth $90,572,000 after purchasing an additional 617,889 shares in the last quarter. DekaBank Deutsche Girozentrale increased its position in shares of Eastman Chemical by 318.2% during the first quarter. DekaBank Deutsche Girozentrale now owns 701,947 shares of the basic materials company's stock valued at $69,516,000 after purchasing an additional 534,081 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Eastman Chemical by 57.2% in the third quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company's stock valued at $104,755,000 after purchasing an additional 340,562 shares in the last quarter. Finally, Envestnet Asset Management Inc. lifted its position in Eastman Chemical by 34.5% in the second quarter. Envestnet Asset Management Inc. now owns 852,551 shares of the basic materials company's stock worth $83,524,000 after purchasing an additional 218,531 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

Shares of EMN stock opened at $105.64 on Friday. Eastman Chemical has a 52 week low of $80.71 and a 52 week high of $114.50. The stock has a market capitalization of $12.24 billion, a PE ratio of 14.14, a PEG ratio of 0.79 and a beta of 1.44. 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 stock's fifty day moving average is $106.38 and its 200-day moving average is $101.53.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced 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 company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company's revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.47 earnings per share. Equities research analysts expect that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Insider Activity at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of the business'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 transaction of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a "hold" rating for the company in a research note on Monday, November 4th. Bank of America lowered shares of Eastman Chemical from a "buy" rating to a "neutral" rating and increased their price target for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Mizuho raised their price target on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a "neutral" rating in a research note on Friday, November 1st. Royal Bank of Canada reiterated a "sector perform" rating and issued a $105.00 price objective on shares of Eastman Chemical in a research note on Friday. Finally, StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Thursday, November 14th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of "Hold" and a consensus target price of $111.50.

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.

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