1,935 Shares in Eastman Chemical (NYSE:EMN) Acquired by Forum Financial Management LP

Forum Financial Management LP bought a new stake in shares of Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 1,935 shares of the basic materials company’s stock, valued at approximately $217,000.

A number of other large investors also recently made changes to their positions in the stock. Cultivar Capital Inc. bought a new position in Eastman Chemical during the second quarter worth about $29,000. Wolff Wiese Magana LLC boosted its stake in 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 during the last quarter. EntryPoint Capital LLC acquired a new position in Eastman Chemical during the first quarter valued at approximately $38,000. Rothschild Investment LLC bought a new stake in Eastman Chemical in the second quarter valued at approximately $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical in the third quarter worth $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.8 %

Shares of Eastman Chemical stock opened at $100.88 on Wednesday. The business has a fifty day simple moving average of $105.78 and a two-hundred day simple moving average of $101.10. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The company has a market capitalization of $11.79 billion, a price-to-earnings ratio of 13.50, a P/E/G ratio of 0.77 and a beta of 1.44. Eastman Chemical has a 1 year low of $75.01 and a 1 year high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data 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. The company had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. The business’s revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 earnings per share. Research analysts forecast that Eastman Chemical will post 7.61 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EMN. Wells Fargo & Company reduced their target price on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating on the stock in a report on Monday. Royal Bank of Canada lifted their price objective on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Deutsche Bank Aktiengesellschaft lowered their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday. Bank of America lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price target for the company from $114.00 to $119.00 in a research note on Wednesday, October 16th. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Eight research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical presently 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.