Private Advisor Group LLC Has $1.28 Million Position in Eastman Chemical (NYSE:EMN)

Private Advisor Group LLC raised its stake in Eastman Chemical (NYSE:EMN) by 10.4% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,426 shares of the basic materials company’s stock after buying an additional 1,081 shares during the quarter. Private Advisor Group LLC’s holdings in Eastman Chemical were worth $1,279,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Cultivar Capital Inc. acquired a new position in shares of Eastman Chemical in the 2nd quarter valued at approximately $29,000. Wolff Wiese Magana LLC raised its stake 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 worth $32,000 after purchasing an additional 200 shares in the last quarter. EntryPoint Capital LLC bought a new position in Eastman Chemical during the 1st quarter worth $38,000. Rothschild Investment LLC bought a new stake in Eastman Chemical during the second quarter worth about $38,000. Finally, Northwest Investment Counselors LLC acquired a new position in Eastman Chemical during the third quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on EMN. Wells Fargo & Company increased their price target on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Barclays upped their target price on Eastman Chemical from $103.00 to $111.00 and gave the company 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 Monday, July 29th. Piper Sandler reiterated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Finally, Royal Bank of Canada lifted their target price on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a report on Friday, October 11th. Eight investment 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 target price of $111.64.

Eastman Chemical Trading Up 0.2 %

Shares of NYSE EMN opened at $105.17 on Friday. The company has a market cap of $12.37 billion, a PE ratio of 13.59, a P/E/G ratio of 0.81 and a beta of 1.44. 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 firm’s 50 day moving average price is $105.66 and its 200-day moving average price is $100.92. Eastman Chemical has a 52-week low of $72.87 and a 52-week high of $114.50.

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.