ING Groep NV Has $19.33 Million Stake in Eastman Chemical (NYSE:EMN)

ING Groep NV raised its holdings in Eastman Chemical (NYSE:EMN) by 60.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 172,634 shares of the basic materials company’s stock after buying an additional 64,803 shares during the period. ING Groep NV owned 0.15% of Eastman Chemical worth $19,326,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. UMB Bank n.a. increased its position in shares of 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 last quarter. V Square Quantitative Management LLC raised its stake in shares of Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 98 shares in the last quarter. Lcnb Corp raised its stake in shares of Eastman Chemical by 1.7% during the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC grew its stake in shares of 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 buying an additional 111 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. grew 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 valued at $384,000 after buying an additional 111 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on EMN shares. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price target for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Barclays lifted their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Wells Fargo & Company dropped their price objective on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a research note on Monday, November 4th. Piper Sandler reiterated a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. Finally, Deutsche Bank Aktiengesellschaft dropped their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $111.50.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical 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 transaction, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 1.93% of the stock is currently owned by insiders.

Eastman Chemical Stock Up 0.0 %

Shares of EMN opened at $100.78 on Friday. 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 12 month low of $79.50 and a 12 month high of $114.50. The firm’s 50 day moving average is $105.98 and its 200-day moving average is $101.30. The stock has a market capitalization of $11.68 billion, a PE ratio of 13.49, a P/E/G ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data 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. 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 analysts’ expectations of $2.38 billion. During the same period in the previous year, the firm earned $1.47 EPS. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. Equities research analysts forecast that Eastman Chemical will post 7.63 EPS for the current year.

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.