Charles Schwab Investment Management Inc. Grows Stock Holdings in Eastman Chemical (NYSE:EMN)

Charles Schwab Investment Management Inc. raised its position in shares of Eastman Chemical (NYSE:EMN) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,142,288 shares of the basic materials company’s stock after buying an additional 10,420 shares during the quarter. Charles Schwab Investment Management Inc. owned about 0.99% of Eastman Chemical worth $104,314,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Eastman Chemical during the fourth quarter valued at about $27,000. Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after buying an additional 162 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at about $35,000. Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at about $37,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Eastman Chemical during the third quarter valued at about $89,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on EMN shares. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. Piper Sandler upped their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Barclays cut their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. JPMorgan Chase & Co. upped their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, Citigroup downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat, Eastman Chemical has an average rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $98.93 on Monday. The stock has a market capitalization of $11.39 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 12 month low of $86.70 and a 12 month high of $114.50. The firm’s 50 day simple moving average is $95.39 and its 200-day simple moving average is $100.32. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.36%. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

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.