Aptus Capital Advisors LLC Acquires New Holdings in Eastman Chemical (NYSE:EMN)

Aptus Capital Advisors LLC bought a new stake in shares of Eastman Chemical (NYSE:EMNFree Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,109 shares of the basic materials company’s stock, valued at approximately $239,000.

Several other large investors have also made changes to their positions in the company. First Command Advisory Services Inc. bought a new stake in Eastman Chemical during the third quarter worth approximately $26,000. Pacifica Partners Inc. bought a new stake in Eastman Chemical during the third quarter worth approximately $28,000. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical during the second quarter worth approximately $33,000. Money Concepts Capital Corp boosted its position in Eastman Chemical by 435.0% during the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock worth $35,000 after purchasing an additional 348 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its position in Eastman Chemical by 134.0% during the second quarter. Stonebridge Capital Advisors LLC now owns 440 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 252 shares during the period. Institutional investors own 82.29% of the company’s stock.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $82.34 on Monday. The business’s fifty day moving average price is $86.57 and its two-hundred day moving average price is $81.78. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $91.38. The stock has a market capitalization of $9.76 billion, a price-to-earnings ratio of 10.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.53. The company has a debt-to-equity ratio of 0.84, a current ratio of 1.36 and a quick ratio of 0.71.

Eastman Chemical (NYSE:EMNGet Free Report) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, topping the consensus estimate of $1.28 by $0.03. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a return on equity of 14.27% and a net margin of 9.71%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.89 earnings per share. As a group, analysts predict that Eastman Chemical will post 7.69 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Monday, December 18th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.93%. The ex-dividend date of this dividend was Friday, December 15th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.79. Eastman Chemical’s dividend payout ratio is presently 43.26%.

Wall Street Analyst Weigh In

EMN has been the subject of a number of research analyst reports. UBS Group upped their price target on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Citigroup cut their price target on Eastman Chemical from $96.00 to $95.00 and set a “buy” rating for the company in a report on Tuesday, February 6th. KeyCorp upped their price target on Eastman Chemical from $95.00 to $101.00 and gave the stock an “overweight” rating in a report on Tuesday, January 9th. The Goldman Sachs Group upped their price target on Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. Finally, Stifel Nicolaus cut their target price on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research note on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $92.67.

Read Our Latest Analysis on Eastman Chemical

Eastman Chemical Company Profile

(Free Report)

Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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