Callan Family Office LLC Invests $228,000 in Eastman Chemical (NYSE:EMN)

Callan Family Office LLC bought a new position in shares of Eastman Chemical (NYSE:EMN) during the fourth quarter, Holdings Channel reports. The firm bought 2,497 shares of the basic materials company’s stock, valued at approximately $228,000.

A number of other hedge funds also recently made changes to their positions in EMN. Crews Bank & Trust bought a new stake in shares of Eastman Chemical during the 4th quarter worth $27,000. Assetmark Inc. raised its stake in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $35,000. Dunhill Financial LLC raised its stake in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the period. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $37,000. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EMN shares. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. KeyCorp boosted their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted 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. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price objective for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. Finally, UBS Group cut 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 assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $94.55 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $10.89 billion, a PE ratio of 12.31, a P/E/G ratio of 1.22 and a beta of 1.43. The firm has a fifty day simple moving average of $95.52 and a two-hundred day simple moving average of $100.31. Eastman Chemical has a twelve month low of $86.70 and a twelve month high of $114.50.

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

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

About Eastman Chemical

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.