21,366 Shares of Eastman Chemical Company $EMN Acquired by Csenge Advisory Group

Csenge Advisory Group bought a new position in Eastman Chemical Company (NYSE:EMN) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 21,366 shares of the basic materials company’s stock, valued at approximately $1,385,000.

Several other hedge funds and other institutional investors have also bought and sold shares of EMN. BlackRock Inc. bought a new position in Eastman Chemical during the 2nd quarter valued at about $1,134,421,000. Legal & General Group Plc bought a new stake in shares of Eastman Chemical in the second quarter worth approximately $87,583,000. Bank of New York Mellon Corp bought a new stake in shares of Eastman Chemical in the second quarter worth approximately $81,645,000. Allspring Global Investments Holdings LLC raised its holdings in shares of Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after purchasing an additional 732,693 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its holdings in shares of Eastman Chemical by 7.4% during the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock valued at $376,747,000 after purchasing an additional 338,914 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of research analyst reports. UBS Group lowered their price objective on shares of Eastman Chemical from $92.00 to $77.00 and set a “buy” rating on the stock in a research report on Monday, October 5th. Deutsche Bank reaffirmed a “hold” rating and issued a $74.00 target price on shares of Eastman Chemical in a research report on Monday, August 3rd. Wall Street Zen lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Royal Bank Of Canada boosted their target price on shares of Eastman Chemical from $65.00 to $70.00 and gave the company a “sector perform” rating in a research note on Wednesday, November 4th. Finally, Mizuho lowered their price target on Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating on the stock in a report on Thursday, October 1st. Six research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $74.79.

Eastman Chemical Trading Down 1.3%

Shares of NYSE:EMN opened at $65.66 on Friday. The stock’s 50-day simple moving average is $65.66 and its two-hundred day simple moving average is $70.79. The stock has a market capitalization of $7.51 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 0.92 and a beta of 1.07. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.79 and a current ratio of 1.57.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.84 EPS for the quarter, missing the consensus estimate of $1.92 by ($0.08). Eastman Chemical had a net margin of 7.15% and a return on equity of 10.59%. The business had revenue of $2.38 billion for the quarter, compared to analysts’ expectations of $2.41 billion. During the same period in the previous year, the company earned $1.14 EPS. Eastman Chemical’s revenue for the quarter was up 8.3% compared to the same quarter last year. Analysts expect that Eastman Chemical Company will post 6.10 EPS for the current year.

Eastman Chemical Company Profile

Eastman Chemical Company is a global specialty materials and chemicals company founded in 1920 in Kingsport, Tennessee. Originally part of Eastman Kodak, it became an independent company in 1994. Eastman develops and manufactures materials and chemical products for customers in a wide range of industries. Its products include specialty plastics and films, performance additives, chemical intermediates, and cellulose acetate fibers. These materials are used in applications such as transportation, building and construction, consumer goods, electronics, packaging, and healthcare.