Stifel Financial Corp Has $11.47 Million Holdings in Eastman Chemical (NYSE:EMN)

Stifel Financial Corp grew its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 6.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 102,475 shares of the basic materials company's stock after purchasing an additional 6,242 shares during the period. Stifel Financial Corp owned approximately 0.09% of Eastman Chemical worth $11,472,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of EMN. Cultivar Capital Inc. acquired a new position in shares of Eastman Chemical during the 2nd quarter valued at $29,000. Wolff Wiese Magana LLC grew its holdings in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after acquiring an additional 200 shares during the period. Rothschild Investment LLC bought a new stake in Eastman Chemical in the second quarter worth about $38,000. Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical in the 3rd quarter valued at about $38,000. Finally, Benjamin F. Edwards & Company Inc. boosted its position in shares of Eastman Chemical by 30.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 144 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

Eastman Chemical stock traded up $0.40 on Thursday, reaching $99.73. The company's stock had a trading volume of 1,412,186 shares, compared to its average volume of 967,034. The business's fifty day moving average price is $104.54 and its 200 day moving average price is $101.77. 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 company has a market cap of $11.56 billion, a price-to-earnings ratio of 13.35, a PEG ratio of 0.81 and a beta of 1.42. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. The firm had revenue of $2.46 billion during the quarter, compared to analysts' expectations of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. Eastman Chemical's revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.47 EPS. Equities analysts expect that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 8th. Investors of record on Monday, December 16th will be issued a $0.83 dividend. This is a positive change from Eastman Chemical's previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a yield of 3.33%. The ex-dividend date is Monday, December 16th. Eastman Chemical's dividend payout ratio is currently 44.44%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on EMN shares. Royal Bank of Canada restated a "sector perform" rating and set a $105.00 target price on shares of Eastman Chemical in a report on Friday, November 22nd. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft cut 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. Mizuho upped their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Finally, Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $112.86.

Insider Buying and Selling at Eastman Chemical

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 sale, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction dated Tuesday, November 26th. The shares were 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 in the company, valued at $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,021 shares of company stock valued at $1,895,948. 1.93% of the stock is currently owned by insiders.

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.