Eastman Chemical (NYSE:EMN) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC grew its stake in shares of Eastman Chemical (NYSE:EMN) by 118.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 17,578 shares of the basic materials company’s stock after buying an additional 9,517 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Eastman Chemical were worth $1,968,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in EMN. Cultivar Capital Inc. purchased a new stake in Eastman Chemical in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC boosted its position 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 last quarter. EntryPoint Capital LLC purchased a new position in Eastman Chemical in the first quarter valued at about $38,000. Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical during the second quarter worth approximately $38,000. Finally, Friedenthal Financial acquired a new position in Eastman Chemical during the 2nd quarter worth $49,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.1 %

NYSE:EMN opened at $104.99 on Thursday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. The company has a market capitalization of $12.35 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.81 and a beta of 1.44. The stock’s 50 day moving average price is $105.54 and its 200 day moving average price is $100.89. Eastman Chemical has a 52 week low of $72.87 and a 52 week high of $114.50.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EMN shares. Mizuho lifted their target price on Eastman Chemical from $102.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Bank of America lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price target for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Barclays increased their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada raised their price objective on shares of Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $111.64.

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.