Proficio Capital Partners LLC acquired a new position in Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 74,882 shares of the basic materials company's stock, valued at approximately $75,000. Proficio Capital Partners LLC owned 0.06% of Eastman Chemical as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the stock. PNC Financial Services Group Inc. lifted its holdings in Eastman Chemical by 57.2% during the third quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company's stock valued at $104,755,000 after purchasing an additional 340,562 shares in the last quarter. Franklin Resources Inc. raised its position in shares of Eastman Chemical by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock valued at $593,233,000 after purchasing an additional 282,458 shares during the period. National Bank of Canada FI lifted its stake in shares of Eastman Chemical by 492.9% during the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company's stock valued at $23,863,000 after buying an additional 177,207 shares in the last quarter. Victory Capital Management Inc. lifted its stake in shares of Eastman Chemical by 443.1% during the 3rd quarter. Victory Capital Management Inc. now owns 158,253 shares of the basic materials company's stock valued at $17,716,000 after buying an additional 129,112 shares in the last quarter. Finally, Thrivent Financial for Lutherans boosted its holdings in Eastman Chemical by 15.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company's stock worth $106,070,000 after buying an additional 126,301 shares during the period. 83.65% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities analysts have recently commented on the company. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. UBS Group lowered their price target on 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 increased their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. Citigroup downgraded shares of Eastman Chemical from a "buy" rating to a "neutral" rating and lowered their target price for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $114.08.
Get Our Latest Stock Report on EMN
Eastman Chemical Trading Up 0.2 %
Shares of NYSE:EMN traded up $0.15 during trading on Monday, reaching $91.23. The company's stock had a trading volume of 1,133,252 shares, compared to its average volume of 915,608. The stock has a market capitalization of $10.51 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 12 month low of $86.70 and a 12 month 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. The firm's 50 day simple moving average is $95.69 and its two-hundred day simple moving average is $100.07.
Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating 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, research analysts predict that Eastman Chemical will post 8.55 EPS for the current fiscal year.
Eastman Chemical Dividend Announcement
The company 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. This represents a $3.32 annualized dividend and a yield of 3.64%. The ex-dividend date is Friday, March 14th. Eastman Chemical's payout ratio is currently 43.23%.
About Eastman Chemical
(
Free Report)
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.
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