Eastman Chemical (NYSE:EMN) Shares Bought by Steward Partners Investment Advisory LLC

Steward Partners Investment Advisory LLC grew its stake in shares of Eastman Chemical (NYSE:EMN) by 518.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 14,551 shares of the basic materials company’s stock after buying an additional 12,198 shares during the period. Steward Partners Investment Advisory LLC’s holdings in Eastman Chemical were worth $1,329,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Jones Financial Companies Lllp increased its stake in Eastman Chemical by 168.6% during the fourth quarter. Jones Financial Companies Lllp now owns 3,693 shares of the basic materials company’s stock worth $337,000 after acquiring an additional 2,318 shares during the last quarter. Metis Global Partners LLC grew its holdings in shares of Eastman Chemical by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 3,878 shares of the basic materials company’s stock worth $354,000 after purchasing an additional 143 shares during the period. West Michigan Advisors LLC increased its position in Eastman Chemical by 6.6% during the 4th quarter. West Michigan Advisors LLC now owns 4,200 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 259 shares in the last quarter. US Bancorp DE raised its holdings in Eastman Chemical by 12.7% in the fourth quarter. US Bancorp DE now owns 57,746 shares of the basic materials company’s stock valued at $5,273,000 after buying an additional 6,498 shares during the period. Finally, SVB Wealth LLC purchased a new position in Eastman Chemical in the fourth quarter valued at approximately $431,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EMN shares. Royal Bank of Canada increased their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 4th. JPMorgan Chase & Co. increased their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. KeyCorp boosted their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their target price for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Stock Performance

Shares of EMN opened at $98.93 on Monday. The firm has a market cap of $11.39 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.22 and a beta of 1.43. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business’s 50 day moving average is $95.39 and its two-hundred day moving average is $100.32. Eastman Chemical has a 52-week low of $86.70 and a 52-week high of $114.50.

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 16.27%. Analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a 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.