Apollon Wealth Management LLC Has $305,000 Holdings in Eastman Chemical (NYSE:EMN)

Apollon Wealth Management LLC grew its holdings in shares of Eastman Chemical (NYSE:EMN) by 35.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,339 shares of the basic materials company’s stock after purchasing an additional 867 shares during the period. Apollon Wealth Management LLC’s holdings in Eastman Chemical were worth $305,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Exchange Traded Concepts LLC boosted its position in Eastman Chemical by 784.4% in the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock valued at $76,000 after buying an additional 604 shares in the last quarter. Wolff Wiese Magana LLC boosted its position in Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after buying an additional 200 shares in the last quarter. Bleakley Financial Group LLC acquired a new stake in Eastman Chemical in the third quarter valued at approximately $217,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its position in Eastman Chemical by 4.3% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,967 shares of the basic materials company’s stock valued at $1,340,000 after buying an additional 498 shares in the last quarter. Finally, V Square Quantitative Management LLC raised its stake in shares of Eastman Chemical by 3.8% during the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $100.99 on Friday. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a 52 week low of $83.38 and a 52 week high of $114.50. The firm’s 50-day simple moving average is $94.26 and its two-hundred day simple moving average is $100.17.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. As a group, equities analysts forecast that Eastman Chemical will post 8.47 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

Insider Activity

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the transaction, the executive vice president now directly 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft lowered their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Barclays reduced their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. UBS Group reduced their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Finally, Mizuho lifted their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $113.77.

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.