Holistic Financial Partners Buys Shares of 1,955 Eastman Chemical (NYSE:EMN)

Holistic Financial Partners acquired a new stake in shares of Eastman Chemical (NYSE:EMN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 1,955 shares of the basic materials company’s stock, valued at approximately $219,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMN. UMB Bank n.a. grew its holdings in Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after purchasing an additional 96 shares during the period. V Square Quantitative Management LLC increased its holdings in Eastman Chemical by 3.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after acquiring an additional 98 shares in the last quarter. Kingswood Wealth Advisors LLC raised its stake 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 acquiring an additional 111 shares during the period. Patrick M Sweeney & Associates Inc. lifted its holdings in Eastman Chemical by 3.3% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 111 shares in the last quarter. Finally, Prosperity Consulting Group LLC increased 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 purchasing an additional 123 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft lowered their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Barclays boosted 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. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday. Wells Fargo & Company dropped 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 report on Monday, November 4th. Finally, Mizuho boosted 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. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Hold” and an average price target of $111.50.

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 shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the sale, the senior vice president now directly 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $101.61 on Monday. 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 company has a market capitalization of $11.78 billion, a price-to-earnings ratio of 13.60, a PEG ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 12 month low of $80.14 and a 12 month high of $114.50. The firm’s 50-day moving average is $106.07 and its 200 day moving average is $101.43.

Eastman Chemical (NYSE:EMN) 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 return on equity of 15.37% and a net margin of 9.47%. The firm had revenue of $2.46 billion during the quarter, compared to analyst estimates of $2.38 billion. During the same period last year, the company earned $1.47 EPS. Eastman Chemical’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts predict that Eastman Chemical will post 7.63 EPS 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.