Empower Advisory Group LLC Raises Holdings in Eastman Chemical (NYSE:EMN)

Empower Advisory Group LLC grew its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 2.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 876,531 shares of the basic materials company's stock after acquiring an additional 24,600 shares during the period. Empower Advisory Group LLC owned about 0.76% of Eastman Chemical worth $80,045,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Eastman Chemical during the 4th quarter valued at $27,000. Dunhill Financial LLC raised its holdings in shares of 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 acquiring an additional 162 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical in the fourth quarter valued at about $37,000. Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical in the third quarter worth about $38,000. Finally, Exchange Traded Concepts LLC grew its holdings in Eastman Chemical by 784.4% during the 3rd quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company's stock worth $76,000 after acquiring an additional 604 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on EMN. JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Barclays lowered their target price on Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating for the company in a report on Monday, February 3rd. Royal Bank of Canada increased their target price on Eastman Chemical from $101.00 to $103.00 and gave the company a "sector perform" rating in a research report on Tuesday, February 4th. Deutsche Bank Aktiengesellschaft reduced their price target on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating for the company in a research report on Monday, November 4th. Finally, StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. 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 currently has a consensus rating of "Moderate Buy" and a consensus target price of $114.08.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the sale, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm's stock in a transaction dated 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 completion of the transaction, the executive vice president now owns 47,287 shares of the company's stock, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is owned by insiders.

Eastman Chemical Stock Down 1.9 %

NYSE EMN traded down $1.93 during trading on Friday, hitting $98.63. The company's stock had a trading volume of 727,019 shares, compared to its average volume of 1,114,921. Eastman Chemical has a fifty-two week low of $85.28 and a fifty-two week high of $114.50. The company has a market cap of $11.36 billion, a PE ratio of 12.84, a P/E/G ratio of 1.23 and a beta of 1.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The business's 50 day simple moving average is $94.42 and its 200-day simple moving average is $100.21.

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

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is presently 43.23%.

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.