International Assets Investment Management LLC Makes New Investment in Eastman Chemical (NYSE:EMN)

International Assets Investment Management LLC bought a new position in shares of Eastman Chemical (NYSE:EMN - Free Report) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 46,123 shares of the basic materials company's stock, valued at approximately $5,163,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. bought a new stake in shares of Eastman Chemical during the second quarter valued at approximately $29,000. Wolff Wiese Magana LLC increased its holdings 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 valued at $32,000 after buying an additional 200 shares during the period. EntryPoint Capital LLC acquired a new position in shares of Eastman Chemical in the 1st quarter valued at $38,000. Rothschild Investment LLC bought a new position in shares of Eastman Chemical during the 2nd quarter worth about $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the 3rd quarter valued at about $38,000. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on EMN. Wells Fargo & Company raised their price target on shares of Eastman Chemical from $105.00 to $118.00 and gave the stock an "equal weight" rating in a research note on Tuesday, October 15th. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Monday, July 29th. Bank of America cut Eastman Chemical from a "buy" rating to a "neutral" rating and lifted their price objective for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Barclays upped their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an "equal weight" rating in a report on Monday, July 29th. Finally, Piper Sandler reissued a "neutral" rating and set a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, Eastman Chemical currently has a consensus rating of "Hold" and a consensus price target of $112.07.

Eastman Chemical Trading Down 3.8 %

NYSE:EMN traded down $4.01 during trading hours on Friday, hitting $101.08. 1,789,392 shares of the stock were exchanged, compared to its average volume of 942,628. The company has a market capitalization of $11.81 billion, a P/E ratio of 13.60, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. The company's 50 day moving average is $105.80 and its two-hundred day moving average is $100.98. Eastman Chemical has a twelve month low of $74.31 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.13 by $0.13. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The firm's quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the business earned $1.47 earnings per share. On average, sell-side analysts anticipate that Eastman Chemical will post 7.66 earnings per share 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.