Eastman Chemical (NYSE:EMN) Shares Bought by Tlwm

Tlwm lifted its holdings in shares of Eastman Chemical (NYSE:EMN) by 3.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,840 shares of the basic materials company’s stock after buying an additional 300 shares during the quarter. Tlwm’s holdings in Eastman Chemical were worth $807,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in EMN. Wolff Wiese Magana LLC lifted its position in shares of Eastman Chemical by 238.1% in the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Dunhill Financial LLC boosted its position in Eastman Chemical by 94.7% during the third 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 last quarter. Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical during the 3rd quarter valued at about $38,000. Benjamin F. Edwards & Company Inc. raised its holdings in Eastman Chemical by 30.9% in the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company’s stock valued at $60,000 after acquiring an additional 144 shares during the last quarter. Finally, Massmutual Trust Co. FSB ADV boosted its holdings in shares of Eastman Chemical by 52.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company’s stock worth $60,000 after purchasing an additional 185 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Up 2.1 %

Shares of EMN opened at $89.07 on Tuesday. The company’s 50-day simple moving average is $97.55 and its 200-day simple moving average is $100.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a 1 year low of $80.71 and a 1 year high of $114.50. The stock has a market capitalization of $10.32 billion, a PE ratio of 11.92, a P/E/G ratio of 0.79 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.47 EPS. Analysts forecast that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were issued a $0.83 dividend. The ex-dividend date was Monday, December 16th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a yield of 3.73%. Eastman Chemical’s dividend payout ratio (DPR) is 44.44%.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of analyst reports. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Piper Sandler lowered their price target on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Mizuho raised their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Finally, Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the stock from $115.00 to $109.00 in a report on Tuesday. Seven analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.92.

Insider Buying and Selling

In other news, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 completion of the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,021 shares of company stock valued at $1,895,948 in the last three months. 1.93% of the stock is owned by corporate 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.