Capital Analysts LLC increased its stake in shares of Eastman Chemical (NYSE:EMN) by 15.4% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 854 shares of the basic materials company’s stock after buying an additional 114 shares during the period. Capital Analysts LLC’s holdings in Eastman Chemical were worth $94,000 as of its most recent filing with the SEC.
Several other hedge funds also recently made changes to their positions in the stock. Ameritas Investment Company LLC bought a new stake in shares of Eastman Chemical during the 1st quarter worth about $362,000. Royal Bank of Canada boosted its holdings in Eastman Chemical by 9.5% in the 1st quarter. Royal Bank of Canada now owns 161,583 shares of the basic materials company’s stock valued at $17,792,000 after purchasing an additional 13,977 shares during the period. Polar Asset Management Partners Inc. bought a new stake in Eastman Chemical in the 1st quarter valued at about $396,000. Captrust Financial Advisors boosted its holdings in Eastman Chemical by 43.4% in the 1st quarter. Captrust Financial Advisors now owns 9,824 shares of the basic materials company’s stock valued at $1,088,000 after purchasing an additional 2,973 shares during the period. Finally, Clark Capital Management Group Inc. boosted its holdings in Eastman Chemical by 33.7% in the 1st quarter. Clark Capital Management Group Inc. now owns 320,361 shares of the basic materials company’s stock valued at $35,278,000 after purchasing an additional 80,664 shares during the period. 84.13% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:EMN opened at $109.84 on Thursday. The firm has a 50 day moving average price of $120.21. The firm has a market cap of $14.97 billion, a PE ratio of 30.51, a PEG ratio of 0.68 and a beta of 1.49. The company has a quick ratio of 1.14, a current ratio of 1.88 and a debt-to-equity ratio of 0.82. Eastman Chemical has a 12 month low of $69.64 and a 12 month high of $130.47.
The business also recently disclosed a quarterly dividend, which was paid on Friday, July 2nd. Investors of record on Tuesday, June 15th were given a dividend of $0.69 per share. This represents a $2.76 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Monday, June 14th. Eastman Chemical’s dividend payout ratio is 44.88%.
In related news, VP Lucian Boldea sold 14,028 shares of the company’s stock in a transaction that occurred on Friday, May 7th. The shares were sold at an average price of $124.89, for a total transaction of $1,751,956.92. Following the completion of the transaction, the vice president now directly owns 33,468 shares in the company, valued at approximately $4,179,818.52. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Perry Stuckey sold 12,231 shares of the company’s stock in a transaction that occurred on Monday, May 17th. The stock was sold at an average price of $130.01, for a total transaction of $1,590,152.31. Following the transaction, the senior vice president now owns 48,627 shares of the company’s stock, valued at $6,321,996.27. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 111,461 shares of company stock valued at $13,969,529. 1.93% of the stock is owned by corporate insiders.
EMN has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Eastman Chemical from $132.00 to $140.00 and gave the company a “buy” rating in a report on Monday, June 14th. Morgan Stanley boosted their price objective on shares of Eastman Chemical from $130.00 to $142.00 and gave the company an “overweight” rating in a report on Wednesday, May 5th. KeyCorp boosted their price objective on shares of Eastman Chemical from $126.00 to $135.00 and gave the company an “overweight” rating in a report on Monday, May 3rd. The Goldman Sachs Group raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and set a $148.00 price objective for the company in a report on Tuesday, May 11th. Finally, Tudor Pickering cut shares of Eastman Chemical from a “buy” rating to a “hold” rating and set a $117.00 target price for the company. in a research report on Monday, May 3rd. Four analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $123.27.
Eastman Chemical Profile
Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets.
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