SVB Wealth LLC Purchases Shares of 4,724 Eastman Chemical (NYSE:EMN)

SVB Wealth LLC acquired a new position in Eastman Chemical (NYSE:EMN - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 4,724 shares of the basic materials company's stock, valued at approximately $431,000.

A number of other large investors have also added to or reduced their stakes in EMN. Crews Bank & Trust bought a new stake in Eastman Chemical in the 4th quarter worth approximately $27,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $35,000. Dunhill Financial LLC increased its position in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock valued at $37,000 after purchasing an additional 162 shares during the last quarter. Stonebridge Financial Group LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $37,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $75,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Up 2.1 %

Shares of EMN stock traded up $1.99 during mid-day trading on Friday, hitting $98.93. The stock had a trading volume of 870,458 shares, compared to its average volume of 1,072,315. Eastman Chemical has a 12-month low of $86.70 and a 12-month high of $114.50. The firm has a market capitalization of $11.39 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The firm's 50-day moving average is $95.25 and its two-hundred day moving average is $100.28. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

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

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.36%. The ex-dividend date is Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is currently 43.23%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EMN. KeyCorp boosted their target price on Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Piper Sandler boosted their target price on Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and cut their target price for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Finally, Barclays cut their price objective on Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and an average price target of $114.08.

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.