2,936 Shares in Eastman Chemical Company (NYSE:EMN) Purchased by Prosperity Consulting Group LLC

Prosperity Consulting Group LLC bought a new stake in Eastman Chemical Company (NYSE:EMN) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,936 shares of the basic materials company’s stock, valued at approximately $259,000.

Several other institutional investors also recently added to or reduced their stakes in EMN. Headlands Technologies LLC bought a new stake in shares of Eastman Chemical in the fourth quarter valued at about $43,000. Orion Capital Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at approximately $47,000. Brown Brothers Harriman & Co. lifted its position in shares of Eastman Chemical by 135.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 528 shares of the basic materials company’s stock worth $48,000 after acquiring an additional 304 shares during the period. TD Private Client Wealth LLC lifted its position in shares of Eastman Chemical by 46.4% in the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 170 shares during the period. Finally, Johnson Financial Group Inc. grew its holdings in shares of Eastman Chemical by 68.5% during the 4th quarter. Johnson Financial Group Inc. now owns 556 shares of the basic materials company’s stock worth $55,000 after purchasing an additional 226 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Down 3.2%

Shares of EMN opened at $73.41 on Thursday. The company has a market capitalization of $8.48 billion, a P/E ratio of 9.34, a PEG ratio of 2.18 and a beta of 1.22. Eastman Chemical Company has a one year low of $70.90 and a one year high of $114.50. The business’s 50 day simple moving average is $78.48 and its 200-day simple moving average is $85.00. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.72 and a quick ratio of 0.79.

Analysts Set New Price Targets

A number of brokerages recently commented on EMN. Piper Sandler cut their target price on Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a report on Thursday, April 3rd. Morgan Stanley lowered their target price on shares of Eastman Chemical from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. Barclays cut their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. Finally, UBS Group lowered their price objective on Eastman Chemical from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $97.08.

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.