Eastman Chemical (NYSE:EMN) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 14.6% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 74,409 shares of the basic materials company's stock after selling 12,688 shares during the quarter. Corient Private Wealth LLC owned 0.06% of Eastman Chemical worth $6,499,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management boosted its holdings in shares of Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. increased its stake in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after acquiring an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth $35,000. Finally, Dunhill Financial LLC boosted its position in shares of 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 acquiring an additional 162 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of analyst reports. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. KeyCorp increased their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and increased their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Finally, Piper Sandler lifted their target price on Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of "Moderate Buy" and an average price target of $114.08.

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Eastman Chemical Stock Down 0.8 %

NYSE:EMN traded down $0.76 during trading hours on Tuesday, hitting $89.33. The company's stock had a trading volume of 1,437,911 shares, compared to its average volume of 913,652. The stock has a fifty day moving average of $95.94 and a 200-day moving average of $99.64. The stock has a market capitalization of $10.29 billion, a P/E ratio of 11.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 52-week low of $86.70 and a 52-week high of $114.50. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, equities analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued 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 3.72%. Eastman Chemical's dividend payout ratio is presently 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.