Pathway Financial Advisers LLC Purchases New Stake in Eastman Chemical (NYSE:EMN)

Pathway Financial Advisers LLC acquired a new position in Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,643 shares of the basic materials company’s stock, valued at approximately $632,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Tyche Wealth Partners LLC grew its position in Eastman Chemical by 13.8% in the third quarter. Tyche Wealth Partners LLC now owns 4,632 shares of the basic materials company’s stock worth $519,000 after acquiring an additional 561 shares during the period. First American Bank boosted its position in shares of Eastman Chemical by 1.1% during the third quarter. First American Bank now owns 33,564 shares of the basic materials company’s stock worth $3,757,000 after buying an additional 375 shares during the period. Ackerman Capital Advisors LLC purchased a new position in shares of Eastman Chemical during the third quarter worth $204,000. Frank Rimerman Advisors LLC purchased a new position in shares of Eastman Chemical during the third quarter worth $220,000. Finally, Modera Wealth Management LLC purchased a new position in shares of Eastman Chemical during the third quarter worth $221,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on EMN. Mizuho lifted their target price on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Deutsche Bank Aktiengesellschaft lifted their target price on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, July 29th. Royal Bank of Canada lifted their target price on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Finally, Barclays raised their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Eight analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $111.64.

Eastman Chemical Stock Performance

NYSE EMN opened at $104.99 on Thursday. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 52-week low of $72.87 and a 52-week high of $114.50. The business’s 50-day moving average price is $105.54 and its 200 day moving average price is $100.89. The firm has a market cap of $12.35 billion, a P/E ratio of 13.53, a P/E/G ratio of 0.81 and a beta of 1.44.

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.