Capital Analysts LLC Lowers Stake in Eastman Chemical (NYSE:EMN)

Capital Analysts LLC lowered its stake in shares of Eastman Chemical (NYSE:EMN) by 32.3% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 568 shares of the basic materials company’s stock after selling 271 shares during the quarter. Capital Analysts LLC’s holdings in Eastman Chemical were worth $51,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. First Command Advisory Services Inc. purchased a new position in Eastman Chemical in the 3rd quarter worth $26,000. Turtle Creek Wealth Advisors LLC purchased a new position in Eastman Chemical in the 4th quarter worth $26,000. Cornerstone Planning Group LLC purchased a new position in Eastman Chemical in the 2nd quarter worth $33,000. Money Concepts Capital Corp raised its position in Eastman Chemical by 435.0% in the 4th 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, Sound Income Strategies LLC raised its position in Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 278 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.4 %

Shares of Eastman Chemical stock opened at $96.42 on Friday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70. The company has a 50-day moving average of $92.72 and a 200 day moving average of $85.62. The firm has a market cap of $11.34 billion, a price-to-earnings ratio of 12.87, a PEG ratio of 1.06 and a beta of 1.54. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. Eastman Chemical’s revenue was down 7.0% compared to the same quarter last year. During the same period last year, the business earned $0.89 EPS. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.7 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.36%. Eastman Chemical’s dividend payout ratio is currently 43.26%.

Analyst Ratings Changes

A number of brokerages recently commented on EMN. Royal Bank of Canada lifted their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday. KeyCorp boosted their price target on Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Redburn Atlantic started coverage on Eastman Chemical in a research report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price objective on the stock. Stifel Nicolaus decreased their target price on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 5th. Finally, UBS Group boosted their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and a consensus target price of $97.81.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 1.93% of the stock is owned by company insiders.

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.