Forsta AP Fonden Sells 4,300 Shares of Eastman Chemical (NYSE:EMN)

Forsta AP Fonden trimmed its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 11.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 33,300 shares of the basic materials company's stock after selling 4,300 shares during the period. Forsta AP Fonden's holdings in Eastman Chemical were worth $3,041,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Wolff Wiese Magana LLC raised its holdings in shares of Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Dunhill Financial LLC raised its position in Eastman Chemical by 94.7% during 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. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the third quarter worth about $38,000. Massmutual Trust Co. FSB ADV boosted its holdings in shares of Eastman Chemical by 52.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company's stock worth $60,000 after buying an additional 185 shares during the period. Finally, Exchange Traded Concepts LLC lifted its holdings in shares of Eastman Chemical by 784.4% during the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company's stock worth $76,000 after buying an additional 604 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

EMN has been the topic of several analyst reports. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. UBS Group cut their price target on Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a report on Friday, January 31st. Piper Sandler lowered their target price on Eastman Chemical from $105.00 to $102.00 and set a "neutral" rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft dropped their target price on shares of 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, Royal Bank of Canada upped 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 note on Tuesday. Six equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and an average price target of $112.64.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at approximately $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the business'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 sale, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 2.28% of the company's stock.

Eastman Chemical Stock Performance

Shares of EMN traded up $0.06 during mid-day trading on Wednesday, reaching $101.85. The company's stock had a trading volume of 1,223,247 shares, compared to its average volume of 1,207,463. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The stock has a market cap of $11.81 billion, a P/E ratio of 13.26, a PEG ratio of 0.73 and a beta of 1.44. Eastman Chemical has a 1-year low of $81.00 and a 1-year high of $114.50. The business has a 50-day simple moving average of $94.59 and a two-hundred day simple moving average of $100.08.

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 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%. As a group, equities research analysts anticipate that Eastman Chemical will post 8.46 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date was Monday, December 16th. This is an increase from Eastman Chemical's previous quarterly dividend of $0.81. Eastman Chemical's payout ratio is 43.23%.

Eastman Chemical 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.