SG Americas Securities LLC Sells 31,069 Shares of Eastman Chemical (NYSE:EMN)

SG Americas Securities LLC cut its stake in shares of Eastman Chemical (NYSE:EMN) by 90.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 3,215 shares of the basic materials company’s stock after selling 31,069 shares during the period. SG Americas Securities LLC’s holdings in Eastman Chemical were worth $289,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Blair William & Co. IL increased its holdings in shares of Eastman Chemical by 2.5% during the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock valued at $491,000 after acquiring an additional 105 shares in the last quarter. Sunbelt Securities Inc. increased its holdings in shares of Eastman Chemical by 4.1% during the second quarter. Sunbelt Securities Inc. now owns 3,107 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 122 shares in the last quarter. Tucker Asset Management LLC increased its holdings in shares of Eastman Chemical by 19.5% during the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after acquiring an additional 142 shares in the last quarter. Yousif Capital Management LLC increased its holdings in Eastman Chemical by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock worth $2,087,000 after buying an additional 150 shares in the last quarter. Finally, BOKF NA increased its holdings in Eastman Chemical by 3.8% in the 2nd quarter. BOKF NA now owns 4,259 shares of the basic materials company’s stock worth $357,000 after buying an additional 154 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Up 1.4 %

EMN stock opened at $101.95 on Wednesday. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $102.71. 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 stock has a market cap of $11.99 billion, a P/E ratio of 13.61, a PEG ratio of 1.11 and a beta of 1.54. The business’s 50-day moving average price is $90.39 and its 200-day moving average price is $84.53.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the previous year, the firm earned $0.89 EPS. The business’s quarterly revenue was down 7.0% on a year-over-year basis. On average, equities research analysts forecast 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. Stockholders of record on Friday, March 15th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.18%. Eastman Chemical’s payout ratio is currently 43.26%.

Insider Activity

In other news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 2.28% of the company’s stock.

Analysts Set New Price Targets

EMN has been the subject of several research analyst reports. Stifel Nicolaus reduced their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 5th. KeyCorp lifted their price objective on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday. The Goldman Sachs Group lifted their price objective on Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a report on Thursday, December 14th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Wednesday, December 13th. Finally, UBS Group raised their target price on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.00.

About Eastman Chemical

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.