Valley National Advisers Inc. Sells 3,145 Shares of Eastman Chemical (NYSE:EMN)

Valley National Advisers Inc. cut its position in Eastman Chemical (NYSE:EMN - Free Report) by 35.1% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,819 shares of the basic materials company's stock after selling 3,145 shares during the period. Valley National Advisers Inc.'s holdings in Eastman Chemical were worth $530,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EMN. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $27,000. Wolff Wiese Magana LLC increased its stake 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 acquiring an additional 200 shares during the last quarter. Dunhill Financial LLC raised its holdings 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 worth $37,000 after acquiring an additional 162 shares during the period. Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical during the 3rd quarter valued at about $38,000. Finally, Massmutual Trust Co. FSB ADV grew its holdings in shares of Eastman Chemical by 52.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 185 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.6 %

NYSE EMN traded down $0.58 during trading hours on Thursday, reaching $101.21. 982,506 shares of the company traded hands, compared to its average volume of 1,198,084. The company has a 50 day moving average of $94.53 and a two-hundred day moving average of $100.09. The stock has a market capitalization of $11.73 billion, a PE ratio of 13.18, a PEG ratio of 0.73 and a beta of 1.44. Eastman Chemical has a 12 month low of $81.00 and a 12 month high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results 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 return on equity of 16.40% and a net margin of 9.65%. As a group, equities analysts expect that Eastman Chemical will post 8.46 earnings per share for the current year.

Eastman Chemical Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were given a $0.83 dividend. This is a boost from Eastman Chemical's previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. This represents a $3.32 annualized dividend and a yield of 3.28%. Eastman Chemical's dividend payout ratio is 43.23%.

Insider Activity

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on 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 sale, the executive vice president now owns 47,287 shares of the company's stock, valued at $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.93% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Wells Fargo & Company upgraded shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. 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. Royal Bank of Canada boosted their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research note on Tuesday. KeyCorp increased their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday. Finally, Citigroup downgraded Eastman Chemical from a "buy" rating to a "neutral" rating and cut their price target for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $113.54.

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.