River Global Investors LLP Has $744,000 Stock Position in Eastman Chemical (NYSE:EMN)

River Global Investors LLP lessened its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 47.9% in the third quarter, according to its most recent filing with the SEC. The firm owned 6,644 shares of the basic materials company's stock after selling 6,108 shares during the period. River Global Investors LLP's holdings in Eastman Chemical were worth $744,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. UMB Bank n.a. lifted its position in Eastman Chemical by 4.3% during the 3rd quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company's stock worth $262,000 after buying an additional 96 shares in the last quarter. V Square Quantitative Management LLC lifted its position in Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company's stock worth $300,000 after buying an additional 98 shares in the last quarter. Lcnb Corp lifted its position in Eastman Chemical by 1.7% during the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company's stock worth $629,000 after buying an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its position in Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company's stock worth $394,000 after buying an additional 111 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. lifted its position in Eastman Chemical by 3.3% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company's stock worth $384,000 after buying an additional 111 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have commented on EMN shares. Mizuho boosted their price target on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Piper Sandler reaffirmed a "neutral" rating and issued a $105.00 target price on shares of Eastman Chemical in a report on Tuesday, July 30th. Barclays raised 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. StockNews.com downgraded shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Wednesday. Finally, 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 for the company in a research note on Wednesday. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus price target of $111.50.

Eastman Chemical Stock Performance

Shares of EMN traded down $2.07 during mid-day trading on Friday, hitting $101.47. 1,116,479 shares of the company's stock were exchanged, compared to its average volume of 890,796. Eastman Chemical has a 52 week low of $75.83 and a 52 week high of $114.50. The stock's 50-day simple moving average is $105.89 and its 200-day simple moving average is $101.23. The firm has a market cap of $11.76 billion, a price-to-earnings ratio of 13.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 1.52 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. During the same period last year, the firm earned $1.47 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. On average, equities research analysts expect that Eastman Chemical will post 7.62 EPS for the current year.

Insider Transactions at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical 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 transaction, the senior vice president now directly owns 12,366 shares of the company's stock, valued at $1,298,430. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 1.93% of the company's stock.

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.