Roman Butler Fullerton & Co. Takes $251,000 Position in Eastman Chemical (NYSE:EMN)

Roman Butler Fullerton & Co. bought a new stake in Eastman Chemical (NYSE:EMN) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 2,272 shares of the basic materials company’s stock, valued at approximately $251,000.

A number of other large investors have also modified their holdings of EMN. Cultivar Capital Inc. acquired a new stake in Eastman Chemical during the 2nd quarter valued at approximately $29,000. Wolff Wiese Magana LLC grew its stake in Eastman Chemical by 238.1% during 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 valued at approximately $38,000. Rothschild Investment LLC acquired a new stake in Eastman Chemical during the 2nd quarter valued at approximately $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical during the 3rd quarter valued at approximately $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Down 1.0 %

Shares of NYSE EMN opened at $100.05 on Tuesday. The company has a market cap of $11.69 billion, a price-to-earnings ratio of 13.39, a price-to-earnings-growth ratio of 0.80 and a beta of 1.44. Eastman Chemical has a 12-month low of $75.01 and a 12-month high of $114.50. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. The stock’s 50 day simple moving average is $105.80 and its 200 day simple moving average is $101.04.

Eastman Chemical (NYSE:EMN) last announced its earnings results 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 firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.45% and a net margin of 9.47%. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.47 EPS. Equities research analysts expect that Eastman Chemical will post 7.66 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have weighed in on EMN. Deutsche Bank Aktiengesellschaft lowered their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday. Wells Fargo & Company decreased their target price on Eastman Chemical from $118.00 to $110.00 and set an “equal weight” rating for the company in a research report on Monday. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Mizuho lifted their target price on Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a research report on Friday. Finally, Royal Bank of Canada lifted their target price on Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Hold” and a consensus price target of $111.64.

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.