Strengthening Families & Communities LLC Has $2.52 Million Holdings in Eastman Chemical Company $EMN

Strengthening Families & Communities LLC increased its stake in shares of Eastman Chemical Company (NYSE:EMN) by 1,353.7% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 37,608 shares of the basic materials company’s stock after acquiring an additional 35,021 shares during the period. Strengthening Families & Communities LLC’s holdings in Eastman Chemical were worth $2,515,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMN. Amalgamated Bank grew its holdings in Eastman Chemical by 0.8% during the second quarter. Amalgamated Bank now owns 22,291 shares of the basic materials company’s stock valued at $1,664,000 after purchasing an additional 168 shares during the last quarter. NewEdge Advisors LLC grew its position in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 183 shares during the last quarter. Concorde Financial Corp increased its stake in shares of Eastman Chemical by 0.9% in the second quarter. Concorde Financial Corp now owns 22,561 shares of the basic materials company’s stock worth $1,684,000 after purchasing an additional 211 shares during the period. Aldebaran Financial Inc. increased its stake in shares of Eastman Chemical by 3.0% in the second quarter. Aldebaran Financial Inc. now owns 7,887 shares of the basic materials company’s stock worth $589,000 after purchasing an additional 226 shares during the period. Finally, Tyche Wealth Partners LLC lifted its position in shares of Eastman Chemical by 3.8% during the 2nd quarter. Tyche Wealth Partners LLC now owns 6,154 shares of the basic materials company’s stock worth $459,000 after purchasing an additional 227 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

Shares of EMN stock opened at $71.48 on Tuesday. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $103.82. The stock has a market capitalization of $8.15 billion, a PE ratio of 17.48, a PEG ratio of 6.81 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 1.76. The stock’s fifty day moving average is $65.25 and its 200-day moving average is $64.95.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a return on equity of 10.63% and a net margin of 5.42%.The firm’s quarterly revenue was down 12.1% on a year-over-year basis. During the same quarter last year, the company earned $1.87 EPS. Equities research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, December 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.7%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s dividend payout ratio (DPR) is presently 82.15%.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of research reports. Royal Bank Of Canada cut Eastman Chemical from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $74.00 to $70.00 in a research report on Friday, January 16th. KeyCorp reaffirmed an “overweight” rating on shares of Eastman Chemical in a report on Monday. Bank of America increased their price target on shares of Eastman Chemical from $74.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday. Evercore ISI dropped their target price on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. Finally, Wells Fargo & Company reiterated an “equal weight” rating and issued a $70.00 price target on shares of Eastman Chemical in a research report on Friday, December 19th. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $78.00.

Eastman Chemical Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.