Gilbert & Cook Inc. Purchases 212 Shares of Eastman Chemical (NYSE:EMN)

Gilbert & Cook Inc. raised its position in shares of Eastman Chemical (NYSE:EMNFree Report) by 5.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,457 shares of the basic materials company’s stock after purchasing an additional 212 shares during the period. Gilbert & Cook Inc.’s holdings in Eastman Chemical were worth $400,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of EMN. First Command Advisory Services Inc. bought a new position in shares of Eastman Chemical in the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC bought a new position in shares of Eastman Chemical in the fourth quarter worth $26,000. Sound Income Strategies LLC boosted its holdings in shares of Eastman Chemical by 213.8% in the fourth 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 period. Bruce G. Allen Investments LLC bought a new position in shares of Eastman Chemical in the fourth quarter worth $38,000. Finally, Orion Capital Management LLC bought a new position in shares of Eastman Chemical in the third quarter worth $40,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Up 0.5 %

Shares of NYSE:EMN opened at $101.33 on Monday. The company has a current ratio of 1.39, a quick ratio of 0.71 and a debt-to-equity ratio of 0.77. The stock has a market capitalization of $11.92 billion, a P/E ratio of 13.06, a price-to-earnings-growth ratio of 1.10 and a beta of 1.54. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $102.71. The stock’s 50-day moving average price is $99.02 and its 200-day moving average price is $90.99.

Eastman Chemical (NYSE:EMNGet Free Report) last posted its earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.20. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. Eastman Chemical’s quarterly revenue was down 4.2% on a year-over-year basis. During the same period last year, the firm earned $1.63 earnings per share. On average, equities analysts anticipate that Eastman Chemical will post 7.75 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Monday, June 17th. This represents a $3.24 annualized dividend and a dividend yield of 3.20%. Eastman Chemical’s payout ratio is presently 41.75%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EMN shares. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, May 13th. Jefferies Financial Group upgraded Eastman Chemical from a “hold” rating to a “buy” rating and increased their price objective for the stock from $102.00 to $125.00 in a research report on Monday, April 29th. Redburn Atlantic initiated coverage on Eastman Chemical in a research report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price objective on the stock. Stifel Nicolaus lowered their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Finally, KeyCorp increased their price objective on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Six investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and an average price target of $106.24.

Get Our Latest Report on EMN

Insider Buying and Selling

In other Eastman Chemical news, SVP Adrian James Holt sold 3,662 shares of Eastman Chemical stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.26, for a total transaction of $370,814.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the sale, the chief executive officer now directly owns 395,699 shares of the company’s stock, valued at approximately $39,878,545.22. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Adrian James Holt sold 3,662 shares of Eastman Chemical stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.26, for a total value of $370,814.12. The disclosure for this sale can be found here. Insiders have sold 110,787 shares of company stock valued at $11,105,175 over the last ninety days. 1.93% of the stock is owned by insiders.

Eastman Chemical Company Profile

(Free Report)

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.

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

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