Principal Financial Group Inc. Has $16.59 Million Position in Eastman Chemical (NYSE:EMN)

Principal Financial Group Inc. lifted its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 6.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 148,176 shares of the basic materials company's stock after purchasing an additional 9,447 shares during the quarter. Principal Financial Group Inc. owned about 0.13% of Eastman Chemical worth $16,588,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Empowered Funds LLC bought a new position in Eastman Chemical during the 1st quarter worth about $594,000. ProShare Advisors LLC lifted its stake in Eastman Chemical by 2.2% in the 1st quarter. ProShare Advisors LLC now owns 33,084 shares of the basic materials company's stock valued at $3,316,000 after acquiring an additional 699 shares in the last quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. boosted its position in Eastman Chemical by 1.1% during the 1st quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 19,285 shares of the basic materials company's stock worth $1,933,000 after acquiring an additional 219 shares during the last quarter. State Board of Administration of Florida Retirement System grew its stake in shares of Eastman Chemical by 18.3% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 148,683 shares of the basic materials company's stock worth $14,901,000 after acquiring an additional 23,052 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eastman Chemical by 23.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 149,740 shares of the basic materials company's stock valued at $15,007,000 after purchasing an additional 28,184 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

EMN has been the subject of several recent research reports. Deutsche Bank Aktiengesellschaft reduced their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a "hold" rating for the company in a report on Monday, November 4th. Piper Sandler restated a "neutral" rating and issued a $105.00 price objective on shares of Eastman Chemical in a report on Tuesday, July 30th. Mizuho increased their price target on Eastman Chemical from $107.00 to $113.00 and gave the company a "neutral" rating in a research report on Friday, November 1st. Royal Bank of Canada lowered their price target on Eastman Chemical from $107.00 to $105.00 and set a "sector perform" rating on the stock in a research report on Wednesday, November 6th. Finally, Wells Fargo & Company cut their price objective on Eastman Chemical from $118.00 to $110.00 and set an "equal weight" rating for the company in a report on Monday, November 4th. Eight research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, Eastman Chemical presently has a consensus 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 firm's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. This trade represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.93% of the company's stock.

Eastman Chemical Stock Performance

Shares of EMN stock traded up $0.86 during midday trading on Friday, hitting $101.61. 990,039 shares of the company were exchanged, compared to its average volume of 952,873. The firm has a market capitalization of $11.78 billion, a P/E ratio of 13.60, a PEG ratio of 0.77 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. Eastman Chemical has a 52 week low of $80.14 and a 52 week high of $114.50. The firm's 50 day moving average price is $106.07 and its two-hundred day moving average price is $101.33.

Eastman Chemical (NYSE:EMN - Get Free Report) last released 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 $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The firm's quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.47 EPS. As a group, equities research analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current year.

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.