Natixis Advisors LLC Sells 22,461 Shares of Eastman Chemical Company (NYSE:EMN)

Natixis Advisors LLC cut its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 7.7% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 270,187 shares of the basic materials company’s stock after selling 22,461 shares during the period. Natixis Advisors LLC’s holdings in Eastman Chemical were worth $23,806,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. grew its position in Eastman Chemical by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company’s stock worth $13,702,000 after acquiring an additional 8,708 shares during the last quarter. OneDigital Investment Advisors LLC grew its position in Eastman Chemical by 36.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company’s stock worth $267,000 after acquiring an additional 816 shares during the last quarter. Teacher Retirement System of Texas bought a new stake in Eastman Chemical during the 1st quarter worth approximately $1,494,000. Farther Finance Advisors LLC grew its position in Eastman Chemical by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company’s stock worth $167,000 after acquiring an additional 214 shares during the last quarter. Finally, Golden State Wealth Management LLC grew its position in Eastman Chemical by 882.3% during the 1st quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company’s stock worth $83,000 after acquiring an additional 847 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 19.0%

NYSE:EMN opened at $58.79 on Friday. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $114.50. The company has a quick ratio of 0.79, a current ratio of 1.72 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $6.79 billion, a P/E ratio of 8.26, a P/E/G ratio of 2.09 and a beta of 1.21. The stock’s fifty day simple moving average is $77.71 and its 200-day simple moving average is $84.58.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.12). The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a return on equity of 15.29% and a net margin of 8.96%. The business’s revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Equities research analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of recent research reports. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Citigroup upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $105.00 to $101.00 in a research report on Friday, April 4th. Wells Fargo & Company decreased their price objective on Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, April 9th. KeyCorp decreased their price objective on Eastman Chemical from $106.00 to $93.00 and set an “overweight” rating on the stock in a research report on Monday, July 14th. Finally, Mizuho decreased their price objective on Eastman Chemical from $92.00 to $80.00 and set an “outperform” rating on the stock in a research report on Friday. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $95.15.

Eastman Chemical Company 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.