2,459 Shares in Eastman Chemical (NYSE:EMN) Purchased by Symmetry Partners LLC

Symmetry Partners LLC bought a new position in Eastman Chemical (NYSE:EMN – Get Rating) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 2,459 shares of the basic materials company’s stock, valued at approximately $200,000.

Other large investors have also bought and sold shares of the company. Envestnet Asset Management Inc. raised its holdings in Eastman Chemical by 0.5% in the third quarter. Envestnet Asset Management Inc. now owns 304,244 shares of the basic materials company’s stock worth $21,617,000 after buying an additional 1,578 shares during the last quarter. Asset Dedication LLC purchased a new position in Eastman Chemical in the third quarter worth about $311,000. Bridgefront Capital LLC purchased a new position in Eastman Chemical in the third quarter worth about $241,000. Clear Street Markets LLC raised its holdings in Eastman Chemical by 49.3% in the third quarter. Clear Street Markets LLC now owns 403 shares of the basic materials company’s stock worth $29,000 after buying an additional 133 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC raised its holdings in Eastman Chemical by 15.8% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 17,956 shares of the basic materials company’s stock worth $1,612,000 after buying an additional 2,447 shares during the last quarter. 83.42% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

EMN opened at $79.22 on Friday. The firm has a market cap of $9.41 billion, a P/E ratio of 12.57, a PEG ratio of 2.14 and a beta of 1.48. Eastman Chemical has a 1-year low of $69.91 and a 1-year high of $114.97. The company has a 50 day simple moving average of $86.97 and a two-hundred day simple moving average of $83.24. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.16 and a quick ratio of 0.58.

Eastman Chemical (NYSE:EMN – Get Rating) last posted its quarterly earnings results on Friday, January 27th. The basic materials company reported $0.89 earnings per share for the quarter, missing analysts’ consensus estimates of $1.26 by ($0.37). The firm had revenue of $2.37 billion during the quarter, compared to the consensus estimate of $2.42 billion. Eastman Chemical had a return on equity of 17.82% and a net margin of 7.50%. The business’s revenue for the quarter was down 11.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.81 earnings per share. Equities analysts forecast that Eastman Chemical will post 7.77 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 10th. Investors of record on Wednesday, March 15th will be given a dividend of $0.79 per share. The ex-dividend date is Tuesday, March 14th. This represents a $3.16 dividend on an annualized basis and a dividend yield of 3.99%. Eastman Chemical’s dividend payout ratio is 50.16%.

Analysts Set New Price Targets

EMN has been the subject of several recent analyst reports. Barclays lifted their target price on shares of Eastman Chemical from $82.00 to $87.00 and gave the stock an “equal weight” rating in a report on Monday, January 30th. Deutsche Bank Aktiengesellschaft cut shares of Eastman Chemical from a “buy” rating to a “hold” rating and boosted their price objective for the company from $90.00 to $96.00 in a report on Monday, January 16th. UBS Group boosted their price objective on shares of Eastman Chemical from $96.00 to $108.00 in a report on Wednesday, January 4th. Vertical Research cut shares of Eastman Chemical from a “buy” rating to a “hold” rating and decreased their price objective for the company from $94.00 to $92.00 in a report on Monday, January 30th. Finally, Mizuho decreased their price objective on shares of Eastman Chemical from $85.00 to $82.00 and set a “neutral” rating for the company in a report on Monday, January 30th. Thirteen 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, the company presently has an average rating of “Hold” and an average target price of $98.78.

About Eastman Chemical

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Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Advanced Material (AM), Additives and Functional Products (AFP), Chemical Intermediates (CI), and Fibers. The AM segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets.