Amalgamated Bank Sells 15,109 Shares of Eastman Chemical (NYSE:EMN)

Amalgamated Bank trimmed its holdings in Eastman Chemical (NYSE:EMN) by 39.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,972 shares of the basic materials company’s stock after selling 15,109 shares during the period. Amalgamated Bank’s holdings in Eastman Chemical were worth $2,572,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. UMB Bank n.a. increased its position in Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock worth $262,000 after buying an additional 96 shares during the last quarter. V Square Quantitative Management LLC raised its stake in shares of Eastman Chemical by 3.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares in the last quarter. Lcnb Corp lifted its holdings in Eastman Chemical by 1.7% in 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 during the last quarter. Kingswood Wealth Advisors LLC grew its holdings in Eastman Chemical by 2.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 111 shares during the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position 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 purchasing an additional 111 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

EMN has been the topic of several recent analyst reports. Mizuho lifted their target price on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays boosted their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Royal Bank of Canada lowered their target price on Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating on the stock in a report on Wednesday, November 6th. Deutsche Bank Aktiengesellschaft cut their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. Finally, Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eastman Chemical has a consensus rating of “Hold” and an average target price of $111.50.

Insiders Place Their Bets

In other news, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now owns 12,366 shares in the company, valued at approximately $1,298,430. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $101.47 on Monday. Eastman Chemical has a twelve month low of $75.83 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.71 and a current ratio of 1.52. The firm has a market cap of $11.76 billion, a P/E ratio of 13.58, a price-to-earnings-growth ratio of 0.79 and a beta of 1.44. The firm’s 50-day simple moving average is $105.89 and its 200-day simple moving average is $101.23.

Eastman Chemical (NYSE:EMN) last released 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. 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 15.37% and a net margin of 9.47%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the company posted $1.47 EPS. As a group, research analysts expect that Eastman Chemical will post 7.62 EPS for the current fiscal year.

Eastman Chemical 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.