Blackhawk Capital Partners LLC. Buys 410 Shares of Eastman Chemical (NYSE:EMN)

Blackhawk Capital Partners LLC. grew its stake in shares of Eastman Chemical (NYSE:EMN) by 18.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,580 shares of the basic materials company’s stock after buying an additional 410 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Eastman Chemical were worth $289,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Cultivar Capital Inc. purchased a new stake in shares of Eastman Chemical during the second quarter worth about $29,000. Wolff Wiese Magana LLC boosted its holdings in shares of Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 200 shares during the period. EntryPoint Capital LLC purchased a new stake in shares of Eastman Chemical during the first quarter worth about $38,000. Rothschild Investment LLC purchased a new stake in Eastman Chemical in the second quarter worth about $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical in the third quarter worth about $38,000. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on EMN shares. Mizuho raised their price objective on shares of Eastman Chemical from $107.00 to $113.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Barclays lifted their target price on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Royal Bank of Canada lowered their target price on shares of Eastman Chemical from $107.00 to $105.00 and set a “sector perform” rating for the company in a report on Wednesday, November 6th. Bank of America downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and raised their price target for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Finally, StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Thursday, November 14th. Eight investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $111.50.

Insider Activity at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the transaction, the senior vice president now directly owns 12,366 shares in the company, valued at approximately $1,298,430. This represents a 19.84 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.93% of the stock is currently owned by insiders.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $101.37 on Thursday. The company’s 50-day moving average price is $106.30 and its 200-day moving average price is $101.51. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market cap of $11.75 billion, a PE ratio of 13.57, a price-to-earnings-growth ratio of 0.77 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the previous year, the firm posted $1.47 EPS. The business’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities research analysts forecast that Eastman Chemical will post 7.63 EPS for the current fiscal year.

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.