2,311 Shares in Eastman Chemical (NYSE:EMN) Bought by Dorsey & Whitney Trust CO LLC

Dorsey & Whitney Trust CO LLC bought a new position in Eastman Chemical (NYSE:EMNFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 2,311 shares of the basic materials company’s stock, valued at approximately $208,000.

Other large investors have also recently added to or reduced their stakes in the company. Atria Investments Inc grew its holdings in shares of Eastman Chemical by 6.6% during the third quarter. Atria Investments Inc now owns 17,857 shares of the basic materials company’s stock worth $1,370,000 after buying an additional 1,108 shares in the last quarter. Metis Global Partners LLC grew its stake in shares of Eastman Chemical by 20.3% during the 3rd quarter. Metis Global Partners LLC now owns 4,317 shares of the basic materials company’s stock worth $331,000 after acquiring an additional 729 shares in the last quarter. Oppenheimer Asset Management Inc. raised its holdings in shares of Eastman Chemical by 10.6% in the third quarter. Oppenheimer Asset Management Inc. now owns 16,485 shares of the basic materials company’s stock valued at $1,265,000 after purchasing an additional 1,579 shares during the last quarter. Moors & Cabot Inc. bought a new stake in shares of Eastman Chemical in the third quarter worth $233,000. Finally, Avantax Advisory Services Inc. boosted its holdings in Eastman Chemical by 6.1% during the third quarter. Avantax Advisory Services Inc. now owns 5,614 shares of the basic materials company’s stock worth $431,000 after purchasing an additional 325 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on EMN shares. Stifel Nicolaus cut their price target on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. UBS Group raised Eastman Chemical from a “neutral” rating to a “buy” rating and increased their price target for the company from $106.00 to $128.00 in a research report on Thursday, May 23rd. Jefferies Financial Group raised Eastman Chemical from a “hold” rating to a “buy” rating and boosted their price target for the stock from $102.00 to $125.00 in a research report on Monday, April 29th. Citigroup increased their price objective on Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. Finally, Bank of America lowered their target price on shares of Eastman Chemical from $113.00 to $112.00 and set a “buy” rating on the stock in a report on Monday, April 29th. Six equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus target price of $106.24.

Get Our Latest Analysis on Eastman Chemical

Eastman Chemical Stock Down 2.7 %

Eastman Chemical stock opened at $98.59 on Tuesday. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $102.71. The stock has a market cap of $11.60 billion, a P/E ratio of 12.70, a P/E/G ratio of 1.10 and a beta of 1.51. The company’s 50-day moving average price is $99.01 and its two-hundred day moving average price is $91.11. The company has a quick ratio of 0.71, a current ratio of 1.39 and a debt-to-equity ratio of 0.77.

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

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, June 17th. Eastman Chemical’s dividend payout ratio is 41.75%.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Adrian James Holt sold 3,662 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.26, for a total transaction of $370,814.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eastman Chemical news, SVP Adrian James Holt sold 3,662 shares of Eastman Chemical stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.26, for a total value of $370,814.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark J. Costa sold 102,390 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total value of $10,318,864.20. Following the sale, the chief executive officer now directly owns 395,699 shares in the company, valued at $39,878,545.22. The disclosure for this sale can be found here. Insiders sold 110,787 shares of company stock worth $11,105,175 in the last quarter. 2.28% of the stock is currently owned by corporate 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.

See Also

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

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