Roman Butler Fullerton & Co. Takes Position in Eastman Chemical (NYSE:EMN)

Roman Butler Fullerton & Co. acquired a new stake in Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 2,272 shares of the basic materials company’s stock, valued at approximately $251,000.

Several other hedge funds and other institutional investors have also made changes to their positions in EMN. Cultivar Capital Inc. purchased a new position in shares of Eastman Chemical in the 2nd quarter valued at about $29,000. Wolff Wiese Magana LLC raised its position in shares of Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in shares of Eastman Chemical during the 1st quarter worth about $38,000. Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth about $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the 3rd quarter worth about $38,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Down 1.0 %

Eastman Chemical stock opened at $100.05 on Tuesday. 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 has a market capitalization of $11.69 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44. Eastman Chemical has a fifty-two week low of $75.01 and a fifty-two week high of $114.50. The stock’s fifty day moving average is $105.80 and its two-hundred day moving average is $101.04.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating the consensus estimate of $2.14 by $0.12. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. Eastman Chemical’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.47 earnings per share. Analysts predict that Eastman Chemical will post 7.66 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada raised their target price on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Deutsche Bank Aktiengesellschaft cut their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Wells Fargo & Company cut their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research report on Monday. Finally, Mizuho lifted their price target on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus target price of $111.64.

Eastman Chemical Company 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.