Chesley Taft & Associates LLC Sells 375 Shares of Eastman Chemical (NYSE:EMN)

Chesley Taft & Associates LLC lowered its position in shares of Eastman Chemical (NYSE:EMNFree Report) by 9.1% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,765 shares of the basic materials company’s stock after selling 375 shares during the period. Chesley Taft & Associates LLC’s holdings in Eastman Chemical were worth $344,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. 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. Dunhill Financial LLC raised its position in Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical in the 3rd quarter worth approximately $38,000. Benjamin F. Edwards & Company Inc. grew its position in shares of Eastman Chemical by 30.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company’s stock worth $60,000 after buying an additional 144 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of Eastman Chemical by 52.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company’s stock valued at $60,000 after buying an additional 185 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 1.2 %

NYSE EMN opened at $94.37 on Wednesday. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50. The stock’s fifty day moving average price is $96.21 and its 200-day moving average price is $100.26. The stock has a market cap of $10.94 billion, a P/E ratio of 12.63, a P/E/G ratio of 0.68 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMNGet Free Report) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The company had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The firm’s revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the firm posted $1.47 earnings per share. As a group, equities analysts forecast that Eastman Chemical will post 7.6 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were given a $0.83 dividend. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. This represents a $3.32 dividend on an annualized basis and a yield of 3.52%. Eastman Chemical’s dividend payout ratio is presently 44.44%.

Insider Activity

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the sale, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This represents a 18.18 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares in the company, valued at $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,021 shares of company stock valued at $1,895,948 in the last ninety days. Corporate insiders own 2.28% of the company’s stock.

Analyst Ratings Changes

EMN has been the subject of a number of research analyst reports. Citigroup lowered Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $118.00 to $104.00 in a research note on Wednesday, December 18th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 target price on shares of Eastman Chemical in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft cut their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Finally, Piper Sandler cut their price objective on Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $112.92.

View Our Latest Stock Report on EMN

Eastman Chemical Profile

(Free Report)

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.

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

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