abrdn plc Has $4.47 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

abrdn plc grew its position in shares of Eastman Chemical (NYSE:EMN) by 69.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 49,728 shares of the basic materials company’s stock after acquiring an additional 20,405 shares during the quarter. abrdn plc’s holdings in Eastman Chemical were worth $4,467,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of EMN. First Command Advisory Services Inc. acquired a new position in Eastman Chemical during the 3rd quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC acquired a new position in Eastman Chemical during the 4th quarter worth approximately $26,000. Sound Income Strategies LLC boosted its position in 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 during the last quarter. Bruce G. Allen Investments LLC acquired a new position in Eastman Chemical during the 4th quarter worth approximately $38,000. Finally, Orion Capital Management LLC acquired a new position in Eastman Chemical during the 3rd quarter worth approximately $40,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Down 0.6 %

EMN opened at $95.56 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $93.98 and its 200 day simple moving average is $86.39. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The stock has a market cap of $11.24 billion, a PE ratio of 12.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the firm posted $1.63 EPS. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, research analysts expect that Eastman Chemical will post 7.71 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is 41.75%.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders own 1.93% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of recent research reports. Redburn Atlantic started coverage on Eastman Chemical in a research report on Thursday, February 15th. They set a “buy” rating and a $110.00 price target for the company. Citigroup upped their price objective on Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. UBS Group upped their price objective on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. Wells Fargo & Company upped their price objective 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. Finally, Royal Bank of Canada upped their price objective on Eastman Chemical from $89.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, April 19th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus target price of $99.31.

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.