Strengthening Families & Communities LLC Sells 30,145 Shares of Eastman Chemical (NYSE:EMN)

Strengthening Families & Communities LLC cut its stake in Eastman Chemical (NYSE:EMN - Free Report) by 92.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,507 shares of the basic materials company's stock after selling 30,145 shares during the period. Strengthening Families & Communities LLC's holdings in Eastman Chemical were worth $229,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new position in Eastman Chemical in the fourth quarter valued at approximately $27,000. Wolff Wiese Magana LLC lifted its stake 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 during the period. Dunhill Financial LLC lifted its stake in Eastman Chemical by 94.7% in 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 period. Stonebridge Financial Group LLC acquired a new position in Eastman Chemical in the fourth quarter valued at approximately $37,000. Finally, Northwest Investment Counselors LLC acquired a new position in Eastman Chemical in the third quarter valued at approximately $38,000. 83.65% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the 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 in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares of the company's stock, valued at $4,965,135. The trade was a 18.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.93% of the company's stock.

Eastman Chemical Stock Performance

NYSE:EMN traded down $0.59 during trading on Friday, reaching $100.99. The company's stock had a trading volume of 829,322 shares, compared to its average volume of 1,146,727. The firm has a market cap of $11.71 billion, a price-to-earnings ratio of 13.15, a price-to-earnings-growth 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. The firm has a 50 day moving average of $94.26 and a 200-day moving average of $100.17. Eastman Chemical has a 12 month low of $83.38 and a 12 month high of $114.50.

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, beating analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. Research analysts expect that Eastman Chemical will post 8.47 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders 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 3.29%. Eastman Chemical's dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EMN. JPMorgan Chase & Co. upped their target price on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their target price on Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft lowered their target price on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Finally, KeyCorp upped their target price on Eastman Chemical from $121.00 to $128.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.