SG Americas Securities LLC Acquires 3,069 Shares of Eastman Chemical (NYSE:EMN)

SG Americas Securities LLC grew its holdings in Eastman Chemical (NYSE:EMNGet Rating) by 56.6% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,491 shares of the basic materials company’s stock after acquiring an additional 3,069 shares during the period. SG Americas Securities LLC’s holdings in Eastman Chemical were worth $603,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Castle Wealth Management LLC bought a new stake in Eastman Chemical in the second quarter worth approximately $30,000. First Command Bank bought a new stake in Eastman Chemical in the second quarter worth approximately $30,000. Venture Visionary Partners LLC bought a new stake in Eastman Chemical in the second quarter worth approximately $31,000. Addison Advisors LLC bought a new stake in Eastman Chemical in the third quarter worth approximately $25,000. Finally, Twin Lakes Capital Management LLC bought a new stake in Eastman Chemical in the third quarter worth approximately $36,000. 83.42% of the stock is owned by institutional investors.

Eastman Chemical Stock Up 3.2 %

EMN opened at $89.82 on Monday. The firm’s 50-day simple moving average is $85.58 and its 200-day simple moving average is $85.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.66 and a current ratio of 1.28. Eastman Chemical has a twelve month low of $69.91 and a twelve month high of $124.85. The firm has a market cap of $10.78 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 2.02 and a beta of 1.46.

Eastman Chemical (NYSE:EMNGet Rating) last posted its earnings results on Thursday, October 27th. The basic materials company reported $2.05 earnings per share for the quarter, topping the consensus estimate of $2.00 by $0.05. Eastman Chemical had a net margin of 10.73% and a return on equity of 19.79%. The business had revenue of $2.71 billion for the quarter, compared to analyst estimates of $2.57 billion. Equities research analysts anticipate that Eastman Chemical will post 8.19 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Thursday, December 15th were issued a $0.79 dividend. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend was Wednesday, December 14th. This represents a $3.16 annualized dividend and a dividend yield of 3.52%. Eastman Chemical’s dividend payout ratio is presently 34.73%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of Eastman Chemical from a “buy” rating to a “hold” rating and boosted their price objective for the stock from $90.00 to $96.00 in a research note on Monday, January 16th. Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $98.00 to $108.00 in a research note on Wednesday, January 11th. TheStreet cut shares of Eastman Chemical from a “b-” rating to a “c+” rating in a research note on Tuesday, October 11th. The Goldman Sachs Group boosted their price objective on shares of Eastman Chemical from $78.00 to $89.00 and gave the stock a “neutral” rating in a research note on Thursday, December 15th. Finally, UBS Group boosted their price objective on shares of Eastman Chemical from $96.00 to $108.00 in a research note on Wednesday, January 4th. Eleven analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $98.38.

Eastman Chemical Profile

(Get Rating)

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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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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