Eastman Chemical (NYSE:EMN) Shares Purchased by Dakota Wealth Management

Dakota Wealth Management boosted its position in Eastman Chemical (NYSE:EMN) by 14.6% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 44,675 shares of the basic materials company’s stock after purchasing an additional 5,700 shares during the quarter. Dakota Wealth Management’s holdings in Eastman Chemical were worth $4,081,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. UMB Bank n.a. raised its position in shares of Eastman Chemical by 4.3% in 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 during the last quarter. V Square Quantitative Management LLC boosted its holdings 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 worth $300,000 after purchasing an additional 98 shares during the last quarter. Patrick M Sweeney & Associates Inc. boosted its holdings 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 worth $384,000 after purchasing an additional 111 shares during the last quarter. RKL Wealth Management LLC grew its position in shares of Eastman Chemical by 0.9% in the third quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company’s stock valued at $1,520,000 after purchasing an additional 123 shares in the last quarter. Finally, Greenleaf Trust increased its holdings in shares of Eastman Chemical by 2.0% in the third quarter. Greenleaf Trust now owns 6,645 shares of the basic materials company’s stock valued at $744,000 after purchasing an additional 128 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on EMN shares. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their target price for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Piper Sandler dropped their price objective on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and an average price target of $112.92.

Eastman Chemical Stock Down 2.3 %

Shares of NYSE:EMN opened at $92.20 on Thursday. The firm has a market capitalization of $10.69 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 0.68 and a beta of 1.44. Eastman Chemical has a 1 year low of $80.71 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The firm’s 50-day moving average is $96.04 and its two-hundred day moving average is $100.20.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The firm had revenue of $2.46 billion for the quarter, compared to the consensus estimate of $2.38 billion. During the same period in the prior year, the firm earned $1.47 EPS. The firm’s revenue for the quarter was up 8.7% on a year-over-year basis. Analysts predict that Eastman Chemical will post 7.6 EPS for the current 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 of this dividend 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 3.60%. Eastman Chemical’s dividend payout ratio (DPR) is 44.44%.

Insider Buying and Selling

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the transaction, 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction 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. 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. 2.28% of the stock is owned by corporate insiders.

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.