Natixis Advisors LLC Increases Position in Eastman Chemical (NYSE:EMN)

Natixis Advisors LLC boosted its stake in Eastman Chemical (NYSE:EMN - Free Report) by 14.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 309,123 shares of the basic materials company's stock after buying an additional 38,926 shares during the quarter. Natixis Advisors LLC owned approximately 0.26% of Eastman Chemical worth $34,606,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC lifted its stake in Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new position in Eastman Chemical in the 2nd quarter worth approximately $29,000. Northwest Investment Counselors LLC purchased a new position in Eastman Chemical in the 3rd quarter worth approximately $38,000. EntryPoint Capital LLC acquired a new stake in shares of Eastman Chemical during the 1st quarter worth approximately $38,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $38,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock traded up $2.40 on Monday, reaching $104.01. 1,180,517 shares of the stock were exchanged, compared to its average volume of 953,894. Eastman Chemical has a 1-year low of $80.71 and a 1-year high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The business has a fifty day moving average price of $106.07 and a two-hundred day moving average price of $101.43. The firm has a market capitalization of $12.06 billion, a PE ratio of 13.60, a PEG ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (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 analyst estimates of $2.38 billion. During the same period in the previous year, the business posted $1.47 earnings per share. The business's revenue was up 8.7% compared to the same quarter last year. As a group, research analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of recent analyst reports. 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 report on Friday, November 1st. 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 report on Monday, July 29th. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Thursday. Piper Sandler reaffirmed a "neutral" rating and set a $105.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Finally, Wells Fargo & Company decreased their price objective on shares of Eastman Chemical from $118.00 to $110.00 and set an "equal weight" rating for the company in a research report on Monday, November 4th. Eight analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $111.50.

Insiders Place Their Bets

In other Eastman Chemical news, 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 value of $321,405.00. Following the sale, the senior vice president now owns 12,366 shares of the company's stock, valued at $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 Securities & Exchange Commission, which is accessible through the SEC website. 1.93% of the stock is currently owned by company insiders.

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.