Venturi Wealth Management LLC Has $314,000 Position in Eastman Chemical (NYSE:EMN)

Venturi Wealth Management LLC raised its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 1,610.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,438 shares of the basic materials company's stock after acquiring an additional 3,237 shares during the period. Venturi Wealth Management LLC's holdings in Eastman Chemical were worth $314,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. State Street Corp lifted its stake in shares of Eastman Chemical by 1.4% during the third quarter. State Street Corp now owns 5,285,230 shares of the basic materials company's stock worth $595,820,000 after purchasing an additional 70,692 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock worth $593,233,000 after acquiring an additional 282,458 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Eastman Chemical by 0.5% in the third quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company's stock worth $310,628,000 after acquiring an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its stake in shares of Eastman Chemical by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company's stock worth $306,093,000 after acquiring an additional 83,504 shares in the last quarter. Finally, Truist Financial Corp lifted its stake in shares of Eastman Chemical by 8.6% in the fourth quarter. Truist Financial Corp now owns 1,158,107 shares of the basic materials company's stock worth $105,758,000 after acquiring an additional 92,162 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on EMN. Mizuho boosted their price target on Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Piper Sandler upped their price objective on Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. Finally, UBS Group decreased their price objective on Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $114.08.

Eastman Chemical Stock Down 1.9 %

Shares of EMN traded down $1.93 during mid-day trading on Friday, reaching $98.63. The company's stock had a trading volume of 727,019 shares, compared to its average volume of 1,114,921. The business has a fifty day moving average of $94.42 and a 200 day moving average of $100.21. The company has a market cap of $11.36 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.23 and a beta of 1.44. Eastman Chemical has a 1 year low of $85.28 and a 1 year high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping 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%. As a group, analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date is Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is presently 43.23%.

Insider Transactions at Eastman Chemical

In related news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The shares were 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 owns 4,403 shares in the company, valued at approximately $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares of the company's stock, valued at approximately $4,965,135. This represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by company 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.