AlphaMark Advisors LLC Sells 529 Shares of Eastman Chemical (NYSE:EMN)

AlphaMark Advisors LLC lowered its position in shares of Eastman Chemical (NYSE:EMN) by 4.1% in the third quarter, HoldingsChannel reports. The fund owned 12,478 shares of the basic materials company’s stock after selling 529 shares during the period. AlphaMark Advisors LLC’s holdings in Eastman Chemical were worth $1,397,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Cultivar Capital Inc. bought a new stake in Eastman Chemical during the 2nd quarter worth about $29,000. Wolff Wiese Magana LLC grew its holdings in Eastman Chemical by 238.1% during 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 period. Northwest Investment Counselors LLC bought a new position in shares of Eastman Chemical in the 1st quarter worth $34,000. EntryPoint Capital LLC bought a new position in Eastman Chemical during the first quarter worth about $38,000. Finally, Rothschild Investment LLC bought a new position in Eastman Chemical during the 2nd quarter worth approximately $38,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.7 %

Shares of EMN stock opened at $109.46 on Friday. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $114.50. The stock has a market cap of $12.88 billion, a price-to-earnings ratio of 14.11, a PEG ratio of 0.83 and a beta of 1.44. The firm’s 50-day moving average is $103.89 and its 200-day moving average is $100.52. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same period last year, the firm posted $1.99 earnings per share. The business’s revenue was up 1.7% on a year-over-year basis. Sell-side analysts predict that Eastman Chemical will post 7.67 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s dividend payout ratio is 41.75%.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on EMN shares. Royal Bank of Canada lifted their price target on shares of Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research report on Friday, October 11th. Barclays raised their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Citigroup decreased their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Mizuho raised their target price on shares of Eastman Chemical from $102.00 to $107.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Finally, Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and upped their price target for the company from $114.00 to $119.00 in a report on Wednesday. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average price target of $110.20.

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.