Huntington National Bank Increases Stock Holdings in Eastman Chemical (NYSE:EMN)

Huntington National Bank grew its stake in shares of Eastman Chemical (NYSE:EMN) by 1.4% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,082 shares of the basic materials company’s stock after purchasing an additional 1,112 shares during the quarter. Huntington National Bank owned approximately 0.07% of Eastman Chemical worth $8,853,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. UMB Bank n.a. lifted its position in 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 increased its position in shares of Eastman Chemical by 3.8% during the third 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 boosted its position in shares of Eastman Chemical by 1.7% in the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after purchasing an additional 103 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after buying an additional 111 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. increased its position in Eastman Chemical by 3.3% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock worth $384,000 after buying an additional 111 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.0 %

NYSE:EMN opened at $100.78 on Friday. Eastman Chemical has a 1 year low of $79.50 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The stock has a fifty day moving average price of $105.98 and a two-hundred day moving average price of $101.30. The stock has a market capitalization of $11.68 billion, a price-to-earnings ratio of 13.49, a PEG ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 EPS. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Insider Transactions at Eastman Chemical

In other news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 1.93% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the company. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price objective for the company from $114.00 to $119.00 in a report on Wednesday, October 16th. Barclays increased their price target on shares of Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Thursday. Finally, Mizuho boosted their price target on Eastman Chemical from $107.00 to $113.00 and gave the company a “neutral” rating in a research report on Friday, November 1st. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $111.50.

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.