Three Seasons Wealth LLC Invests $464,000 in Eastman Chemical (NYSE:EMN)

Three Seasons Wealth LLC purchased a new stake in shares of Eastman Chemical (NYSE:EMN - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 5,031 shares of the basic materials company's stock, valued at approximately $464,000.

Other large investors have also made changes to their positions in the company. Crews Bank & Trust bought a new stake in shares of Eastman Chemical during the 4th quarter valued at about $27,000. Picton Mahoney Asset Management increased its holdings in Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after acquiring an additional 124 shares in the last quarter. Assetmark Inc. raised its stake in Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after acquiring an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $35,000. Finally, Stonebridge Financial Group LLC bought a new position in shares of Eastman Chemical in the fourth quarter worth approximately $37,000. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on EMN shares. Mizuho raised shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a research note on Thursday, April 3rd. Morgan Stanley reduced their price objective on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday. UBS Group reduced their price objective on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research note on Wednesday, April 9th. Finally, StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Five analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $102.64.

Eastman Chemical Price Performance

Shares of NYSE:EMN traded down $0.15 on Monday, reaching $75.69. The company's stock had a trading volume of 1,800,480 shares, compared to its average volume of 1,037,294. Eastman Chemical has a 52-week low of $70.90 and a 52-week high of $114.50. The company has a market cap of $8.72 billion, a P/E ratio of 9.86, a PEG ratio of 1.22 and a beta of 1.38. The company has a 50-day simple moving average of $86.87 and a 200 day simple moving average of $94.64. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period last year, the company posted $1.61 EPS. The business's revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were paid a $0.83 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.39%. Eastman Chemical's payout ratio is currently 42.24%.

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.