Eastman Chemical (NYSE:EMN) Holdings Raised by Atria Wealth Solutions Inc.

Atria Wealth Solutions Inc. lifted its stake in Eastman Chemical (NYSE:EMN) by 4.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,452 shares of the basic materials company’s stock after acquiring an additional 151 shares during the quarter. Atria Wealth Solutions Inc.’s holdings in Eastman Chemical were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter worth $26,000. First Command Advisory Services Inc. bought a new position in shares of Eastman Chemical in the third quarter worth about $26,000. Sound Income Strategies LLC lifted its position in shares of Eastman Chemical by 213.8% during 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 last quarter. Bruce G. Allen Investments LLC acquired a new stake in Eastman Chemical in the 4th quarter valued at approximately $38,000. Finally, WASHINGTON TRUST Co increased its position in Eastman Chemical by 426.6% in the 4th quarter. WASHINGTON TRUST Co now owns 495 shares of the basic materials company’s stock worth $44,000 after buying an additional 401 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Eastman Chemical

In related news, CEO Mark J. Costa sold 102,390 shares of the company’s stock in a transaction dated Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total value of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares in the company, valued at $39,878,545.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total value of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares of the company’s stock, valued at $39,878,545.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The disclosure for this sale can be found here. 2.27% of the stock is owned by corporate insiders.

Eastman Chemical Stock Up 0.1 %

NYSE EMN opened at $100.76 on Thursday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71. The stock has a market capitalization of $11.85 billion, a P/E ratio of 12.98, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. The stock has a fifty day moving average of $95.83 and a 200-day moving average of $87.85.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period last year, the company earned $1.63 earnings per share. The company’s revenue was down 4.2% on a year-over-year basis. On average, equities research analysts forecast that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 17th will be paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.22%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical’s dividend payout ratio (DPR) is currently 41.75%.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EMN shares. UBS Group boosted their target price on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Bank of America decreased their price objective on Eastman Chemical from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Mizuho boosted their price target on Eastman Chemical from $91.00 to $102.00 and gave the company a “neutral” rating in a research note on Friday, April 26th. Redburn Atlantic began coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, StockNews.com downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 29th. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $104.18.

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.