Eastman Chemical (NYSE:EMN) Stock Holdings Trimmed by World Investment Advisors LLC

World Investment Advisors LLC lessened its holdings in shares of Eastman Chemical (NYSE:EMN) by 17.0% in the third quarter, according to its most recent filing with the SEC. The firm owned 2,871 shares of the basic materials company’s stock after selling 586 shares during the quarter. World Investment Advisors LLC’s holdings in Eastman Chemical were worth $321,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. UMB Bank n.a. boosted its stake in Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after buying an additional 96 shares in the last quarter. V Square Quantitative Management LLC boosted its position in shares of Eastman Chemical by 3.8% during the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 98 shares in the last quarter. Patrick M Sweeney & Associates Inc. boosted its position in shares of Eastman Chemical by 3.3% during the 3rd quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock valued at $384,000 after purchasing an additional 111 shares in the last quarter. Prosperity Consulting Group LLC grew its stake in shares of Eastman Chemical by 4.8% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after purchasing an additional 123 shares during the last quarter. Finally, RKL Wealth Management LLC raised its holdings in shares of Eastman Chemical by 0.9% in the 3rd quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company’s stock worth $1,520,000 after purchasing an additional 123 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on EMN. Bank of America cut 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, October 16th. Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Finally, Mizuho lifted their target price 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. Seven investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.92.

Insider Buying and Selling

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of the business’s 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 sale, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total transaction of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,021 shares of company stock worth $1,895,948. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Performance

Shares of NYSE EMN opened at $90.95 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. Eastman Chemical has a one year low of $80.71 and a one year high of $114.50. The business’s 50-day moving average price is $103.82 and its two-hundred day moving average price is $101.72. The company has a market capitalization of $10.54 billion, a P/E ratio of 12.18, a price-to-earnings-growth ratio of 0.79 and a beta of 1.42.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.47 EPS. Analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th will be issued a dividend of $0.83 per share. The ex-dividend date is Monday, December 16th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.65%. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. Eastman Chemical’s dividend payout ratio (DPR) is currently 44.44%.

Eastman Chemical 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.