Eastman Chemical Company (NYSE:EMN) Shares Purchased by Farther Finance Advisors LLC

Farther Finance Advisors LLC grew its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 12.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,890 shares of the basic materials company’s stock after purchasing an additional 214 shares during the period. Farther Finance Advisors LLC’s holdings in Eastman Chemical were worth $167,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EMN. Capital Research Global Investors raised its stake in Eastman Chemical by 13.4% during the fourth quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company’s stock worth $537,561,000 after acquiring an additional 697,388 shares during the period. Franklin Resources Inc. raised its position in shares of Eastman Chemical by 10.8% during the 4th quarter. Franklin Resources Inc. now owns 5,785,259 shares of the basic materials company’s stock worth $528,310,000 after purchasing an additional 565,821 shares during the period. Invesco Ltd. raised its position in shares of Eastman Chemical by 11.1% during the 4th quarter. Invesco Ltd. now owns 2,844,165 shares of the basic materials company’s stock worth $259,729,000 after purchasing an additional 284,271 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in shares of Eastman Chemical by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,843,506 shares of the basic materials company’s stock worth $259,669,000 after purchasing an additional 109,316 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Eastman Chemical by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,832,593 shares of the basic materials company’s stock worth $257,986,000 after purchasing an additional 48,491 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler lowered their price objective on Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating for the company in a research note on Monday, April 7th. Barclays reduced their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. The Goldman Sachs Group dropped their price objective on shares of Eastman Chemical from $112.00 to $87.00 and set a “neutral” rating on the stock in a report on Monday, April 28th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Finally, UBS Group decreased their target price on shares of Eastman Chemical from $111.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, May 28th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $98.54.

Eastman Chemical Stock Performance

Shares of NYSE EMN opened at $74.61 on Friday. Eastman Chemical Company has a 1 year low of $70.90 and a 1 year high of $114.50. The firm has a market cap of $8.61 billion, a P/E ratio of 9.49, a PEG ratio of 1.74 and a beta of 1.25. The stock has a fifty day moving average price of $78.79 and a two-hundred day moving average price of $88.11. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.79 and a current ratio of 1.72.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.59% and a net margin of 9.85%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the firm posted $1.61 earnings per share. The company’s revenue was down .9% on a year-over-year basis. Research analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a dividend yield of 4.45%. Eastman Chemical’s dividend payout ratio (DPR) is 42.24%.

Eastman Chemical Company 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.