Victory Capital Management Inc. Grows Stock Holdings in Eastman Chemical (NYSE:EMN)

Victory Capital Management Inc. lifted its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 443.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 158,253 shares of the basic materials company's stock after buying an additional 129,112 shares during the period. Victory Capital Management Inc. owned approximately 0.14% of Eastman Chemical worth $17,716,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. UMB Bank n.a. lifted its holdings in Eastman Chemical by 4.3% in the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company's stock valued at $262,000 after acquiring an additional 96 shares during the period. V Square Quantitative Management LLC lifted its holdings in Eastman Chemical by 3.8% in the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company's stock valued at $300,000 after acquiring an additional 98 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company's stock valued at $394,000 after acquiring an additional 111 shares during the period. Patrick M Sweeney & Associates Inc. raised its stake in shares of Eastman Chemical by 3.3% in the third 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 during the period. Finally, Prosperity Consulting Group LLC raised its stake in shares of Eastman Chemical by 4.8% in the second quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company's stock worth $261,000 after buying an additional 123 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, SVP Christopher Moore Killian sold 3,061 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company's stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 2.28% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on EMN. Mizuho increased their target price on Eastman Chemical from $107.00 to $113.00 and gave the stock a "neutral" rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft cut their target price on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Royal Bank of Canada cut their price target on Eastman Chemical from $107.00 to $105.00 and set a "sector perform" rating for the company in a report on Wednesday, November 6th. Wells Fargo & Company cut their price target 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. Finally, Barclays raised their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an "equal weight" rating in a report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company's stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of "Hold" and an average target price of $111.50.

Eastman Chemical Stock Up 0.0 %

Shares of EMN traded up $0.04 during trading hours on Wednesday, hitting $101.37. The company had a trading volume of 778,863 shares, compared to its average volume of 957,147. The company has a market capitalization of $11.75 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. Eastman Chemical has a one year low of $80.71 and a one year high of $114.50. The company's fifty day moving average price is $106.30 and its two-hundred day moving average price is $101.51.

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 the consensus estimate of $2.14 by $0.12. The firm had revenue of $2.46 billion for 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 revenue for the quarter was up 8.7% on a year-over-year basis. During the same period in the previous year, the business earned $1.47 EPS. As a group, equities analysts forecast that Eastman Chemical will post 7.63 earnings per share for the current fiscal 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.