Charles Schwab Investment Management Inc. Has $126.71 Million Position in Eastman Chemical (NYSE:EMN)

Charles Schwab Investment Management Inc. trimmed its position in Eastman Chemical (NYSE:EMN) by 0.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,131,868 shares of the basic materials company’s stock after selling 3,465 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.98% of Eastman Chemical worth $126,713,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. Dakota Wealth Management grew its stake in shares of Eastman Chemical by 13.5% in the second quarter. Dakota Wealth Management now owns 22,280 shares of the basic materials company’s stock valued at $2,183,000 after acquiring an additional 2,655 shares in the last quarter. KBC Group NV grew its position in shares of Eastman Chemical by 21.8% during the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after purchasing an additional 19,809 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Eastman Chemical by 6.8% during the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock worth $16,588,000 after purchasing an additional 9,447 shares during the period. Cetera Advisors LLC raised its position in shares of Eastman Chemical by 119.7% in the first quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company’s stock valued at $1,011,000 after buying an additional 5,496 shares in the last quarter. Finally, Comerica Bank boosted its stake in shares of Eastman Chemical by 18.5% in the first quarter. Comerica Bank now owns 39,306 shares of the basic materials company’s stock valued at $3,939,000 after buying an additional 6,126 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.2 %

NYSE EMN opened at $105.85 on Tuesday. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50. The business’s fifty day moving average is $106.43 and its 200 day moving average is $101.59. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market cap of $12.27 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping 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 company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. During the same period in the previous year, the business posted $1.47 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, sell-side analysts expect that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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 transaction of $321,405.00. Following the transaction, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.28% of the company’s stock.

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.