Eastman Chemical (NYSE:EMN) Shares Purchased by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans raised its position in Eastman Chemical (NYSE:EMN) by 15.4% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 947,473 shares of the basic materials company’s stock after acquiring an additional 126,301 shares during the quarter. Thrivent Financial for Lutherans’ holdings in Eastman Chemical were worth $106,070,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Cultivar Capital Inc. purchased a new position in shares of Eastman Chemical in the second quarter valued at approximately $29,000. Wolff Wiese Magana LLC lifted its holdings in Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. EntryPoint Capital LLC acquired a new stake in Eastman Chemical during the 1st quarter worth $38,000. Rothschild Investment LLC purchased a new stake in shares of Eastman Chemical during the second quarter worth $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Eastman Chemical during the third quarter worth $38,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on EMN shares. Barclays boosted 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 report on Monday, July 29th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday. Deutsche Bank Aktiengesellschaft reduced their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Piper Sandler restated a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a report on Tuesday, July 30th. Finally, Royal Bank of Canada reduced their price target 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. Eight equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical has an average rating of “Hold” and an average target price of $111.50.

Eastman Chemical Stock Up 0.9 %

Eastman Chemical stock opened at $101.61 on Monday. The company has a market capitalization of $11.78 billion, a PE ratio of 13.60, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a fifty-two week low of $80.14 and a fifty-two week high of $114.50. The firm has a 50 day moving average price of $106.07 and a 200 day moving average price of $101.43.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business 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 posted $1.47 earnings per share. The company’s revenue was up 8.7% on a year-over-year basis. Research analysts expect that Eastman Chemical will post 7.63 earnings per share for the current year.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. This trade represents a 19.84 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Insiders own 1.93% of the company’s stock.

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.