First Horizon Advisors Inc. Has $170,000 Position in Eastman Chemical (NYSE:EMN)

First Horizon Advisors Inc. boosted its stake in Eastman Chemical (NYSE:EMN) by 48.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,516 shares of the basic materials company’s stock after purchasing an additional 495 shares during the quarter. First Horizon Advisors Inc.’s holdings in Eastman Chemical were worth $170,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EMN. Advisors Asset Management Inc. grew its stake in shares of Eastman Chemical by 17.4% in the 3rd quarter. Advisors Asset Management Inc. now owns 17,996 shares of the basic materials company’s stock valued at $2,015,000 after buying an additional 2,665 shares during the period. PNC Financial Services Group Inc. boosted its holdings in Eastman Chemical by 57.2% in the third quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company’s stock worth $104,755,000 after acquiring an additional 340,562 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Eastman Chemical in the third quarter valued at approximately $314,000. Fifth Third Wealth Advisors LLC bought a new stake in shares of Eastman Chemical during the third quarter valued at approximately $491,000. Finally, Prospera Financial Services Inc raised its position in shares of Eastman Chemical by 21.4% during the third quarter. Prospera Financial Services Inc now owns 22,391 shares of the basic materials company’s stock worth $2,506,000 after purchasing an additional 3,940 shares during the period. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Trading Up 1.9 %

Shares of Eastman Chemical stock opened at $105.59 on Friday. The stock has a fifty day moving average price of $106.43 and a 200-day moving average price of $101.57. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The firm has a market cap of $12.24 billion, a PE ratio of 14.14, a P/E/G ratio of 0.79 and a beta of 1.44. Eastman Chemical has a 1 year low of $80.71 and a 1 year high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping 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 firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company posted $1.47 earnings per share. Equities research analysts anticipate that Eastman Chemical will post 7.63 EPS for the current year.

Wall Street Analyst Weigh In

EMN has been the subject of a number of recent research reports. Barclays boosted their price target on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company cut their price target on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research note on Monday, November 4th. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and increased their price objective for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Finally, StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $111.50.

Insider Buying and Selling

In other news, SVP Christopher Moore Killian sold 3,061 shares of the 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 in the company, valued at approximately $1,298,430. This represents a 19.84 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.93% of the stock is currently owned by insiders.

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.