Telos Capital Management Inc. Makes New Investment in Eastman Chemical (NYSE:EMN)

Telos Capital Management Inc. purchased a new position in shares of Eastman Chemical (NYSE:EMN) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,386 shares of the basic materials company’s stock, valued at approximately $214,000.

Several other institutional investors have also modified their holdings of EMN. First Command Advisory Services Inc. purchased a new stake in shares of Eastman Chemical during the 3rd quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth approximately $26,000. Cornerstone Planning Group LLC purchased a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $33,000. Money Concepts Capital Corp boosted its stake in shares of Eastman Chemical by 435.0% during the 4th quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 348 shares in the last quarter. Finally, Sound Income Strategies LLC boosted its stake in shares of Eastman Chemical by 213.8% during the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 278 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 1.93% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Wells Fargo & Company boosted their price target on Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Stifel Nicolaus reduced their target price on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. KeyCorp upped their target price on Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Royal Bank of Canada reduced their target price on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating on the stock in a research note on Tuesday, February 6th. Finally, Redburn Atlantic started coverage on Eastman Chemical in a research note on Thursday, February 15th. They issued a “buy” rating and a $110.00 target price on the stock. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $97.13.

Eastman Chemical Trading Down 0.4 %

EMN stock opened at $95.97 on Thursday. The company has a market cap of $11.29 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.07 and a beta of 1.54. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The business has a fifty day simple moving average of $92.17 and a 200-day simple moving average of $85.40. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The business’s revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.89 EPS. On average, equities research analysts expect that Eastman Chemical will post 7.7 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.38%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.26%.

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.