OneDigital Investment Advisors LLC Boosts Position in Eastman Chemical Company (NYSE:EMN)

OneDigital Investment Advisors LLC boosted its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 36.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,029 shares of the basic materials company’s stock after buying an additional 816 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Eastman Chemical were worth $267,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of EMN. Brighton Jones LLC purchased a new position in Eastman Chemical during the 4th quarter worth approximately $202,000. Assetmark Inc. increased its holdings in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $75,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Eastman Chemical by 6.1% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,424 shares of the basic materials company’s stock valued at $6,066,000 after purchasing an additional 3,837 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its holdings in shares of Eastman Chemical by 7.2% during the 4th quarter. Daiwa Securities Group Inc. now owns 15,417 shares of the basic materials company’s stock valued at $1,408,000 after purchasing an additional 1,033 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 1.6%

Shares of EMN opened at $80.29 on Friday. Eastman Chemical Company has a 52-week low of $70.90 and a 52-week high of $114.50. The company has a quick ratio of 0.79, a current ratio of 1.72 and a debt-to-equity ratio of 0.80. The firm’s fifty day moving average is $78.94 and its two-hundred day moving average is $85.98. The stock has a market cap of $9.27 billion, a PE ratio of 10.22, a price-to-earnings-growth ratio of 1.92 and a beta of 1.22.

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

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th were given a $0.83 dividend. The ex-dividend date was Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a yield of 4.14%. Eastman Chemical’s payout ratio is currently 42.24%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on EMN. Wells Fargo & Company cut their target price on shares of Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, April 9th. The Goldman Sachs Group cut their target price on shares of Eastman Chemical from $112.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Citigroup raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their target price for the company from $105.00 to $101.00 in a report on Friday, April 4th. Wall Street Zen lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 28th. Finally, Royal Bank Of Canada raised shares of Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 price target for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $98.08.

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.