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

Steward Partners Investment Advisory LLC lifted its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 518.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,551 shares of the basic materials company's stock after buying an additional 12,198 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Eastman Chemical were worth $1,329,000 at the end of the most recent quarter.

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

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Analysts Set New Price Targets

A number of brokerages have recently issued reports on EMN. Mizuho lifted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. KeyCorp boosted their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. UBS Group lowered their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Piper Sandler boosted their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a "neutral" rating in a research note on Thursday, February 13th. Finally, Royal Bank of Canada increased their target price on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $114.08.

Eastman Chemical Stock Performance

EMN stock traded down $1.99 during midday trading on Thursday, reaching $90.42. The stock had a trading volume of 866,625 shares, compared to its average volume of 1,063,742. The firm has a fifty day simple moving average of $95.60 and a two-hundred day simple moving average of $100.21. Eastman Chemical has a 52-week low of $86.70 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a market cap of $10.41 billion, a PE ratio of 11.77, a P/E/G ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced 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%. As a group, equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

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 of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.67%. Eastman Chemical's payout ratio is currently 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.