Oppenheimer & Co. Inc. Sells 590 Shares of Eastman Chemical (NYSE:EMN)

Oppenheimer & Co. Inc. trimmed its position in Eastman Chemical (NYSE:EMN) by 2.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 23,334 shares of the basic materials company’s stock after selling 590 shares during the period. Oppenheimer & Co. Inc.’s holdings in Eastman Chemical were worth $2,131,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in EMN. Crews Bank & Trust bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $27,000. Dunhill Financial LLC grew its position in Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in Eastman Chemical during the 4th quarter valued at $35,000. Stonebridge Financial Group LLC bought a new stake in Eastman Chemical during the 4th quarter valued at $37,000. Finally, Ashton Thomas Securities LLC acquired a new position in Eastman Chemical during the third quarter worth $89,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on EMN shares. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. 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. JPMorgan Chase & Co. raised their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Trading Up 0.9 %

Shares of Eastman Chemical stock opened at $97.81 on Monday. The firm has a market cap of $11.26 billion, a PE ratio of 12.74, a P/E/G ratio of 1.22 and a beta of 1.44. Eastman Chemical has a 1 year low of $86.59 and a 1 year high of $114.50. 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 stock has a fifty day moving average price of $94.92 and a 200-day moving average price of $100.38.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating 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%. Equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.39%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

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.