Walnut Level Capital LLC grew its stake in Eastman Chemical (NYSE:EMN - Free Report) by 4.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 161,042 shares of the basic materials company's stock after purchasing an additional 7,500 shares during the quarter. Eastman Chemical makes up approximately 5.6% of Walnut Level Capital LLC's holdings, making the stock its 6th biggest holding. Walnut Level Capital LLC owned about 0.14% of Eastman Chemical worth $14,706,000 at the end of the most recent reporting period.
Other large investors have also modified their holdings of the company. Quest Partners LLC acquired a new position in Eastman Chemical in the third quarter worth $154,000. Pathstone Holdings LLC boosted its holdings in shares of Eastman Chemical by 2.2% in the 3rd quarter. Pathstone Holdings LLC now owns 16,483 shares of the basic materials company's stock valued at $1,846,000 after buying an additional 348 shares during the period. Caprock Group LLC grew its position in shares of Eastman Chemical by 33.5% during the 3rd quarter. Caprock Group LLC now owns 3,068 shares of the basic materials company's stock valued at $346,000 after buying an additional 770 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in Eastman Chemical during the third quarter worth about $314,000. Finally, Advisors Asset Management Inc. grew its stake in Eastman Chemical by 17.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,996 shares of the basic materials company's stock worth $2,015,000 after buying an additional 2,665 shares during the last quarter. Institutional investors own 83.65% of the company's stock.
Analyst Ratings Changes
EMN has been the topic of a number of recent research reports. Bank of America upgraded 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 note on Tuesday, January 14th. JPMorgan Chase & Co. boosted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. KeyCorp lifted their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Piper Sandler raised 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. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and an average target price of $114.08.
Read Our Latest Research Report on EMN
Eastman Chemical Price Performance
Shares of EMN traded down $1.05 during midday trading on Thursday, reaching $88.51. The stock had a trading volume of 401,662 shares, compared to its average volume of 905,368. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The company has a market capitalization of $10.19 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.22 and a beta of 1.43. The firm's 50 day moving average price is $95.84 and its 200-day moving average price is $99.51. Eastman Chemical has a 52 week low of $86.70 and a 52 week high of $114.50.
Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.
Eastman Chemical Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.75%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's payout ratio is 43.23%.
Eastman Chemical Profile
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Free Report)
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.
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