Caprock Group LLC Makes New $699,000 Investment in Eastman Chemical Company $EMN

Caprock Group LLC purchased a new stake in shares of Eastman Chemical Company (NYSE:EMN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,079 shares of the basic materials company’s stock, valued at approximately $699,000.

Several other large investors also recently bought and sold shares of the business. Rhumbline Advisers lifted its stake in Eastman Chemical by 12.4% during the 3rd quarter. Rhumbline Advisers now owns 241,603 shares of the basic materials company’s stock valued at $15,233,000 after acquiring an additional 26,718 shares during the period. Advisors Asset Management Inc. lifted its position in Eastman Chemical by 36.8% during the third quarter. Advisors Asset Management Inc. now owns 20,253 shares of the basic materials company’s stock valued at $1,277,000 after purchasing an additional 5,446 shares during the period. SVB Wealth LLC boosted its holdings in Eastman Chemical by 69.2% in the third quarter. SVB Wealth LLC now owns 23,765 shares of the basic materials company’s stock worth $1,498,000 after purchasing an additional 9,723 shares during the last quarter. Bryce Point Capital LLC bought a new stake in Eastman Chemical in the 3rd quarter worth approximately $571,000. Finally, Prospera Financial Services Inc raised its stake in Eastman Chemical by 1.8% during the 3rd quarter. Prospera Financial Services Inc now owns 28,015 shares of the basic materials company’s stock valued at $1,766,000 after buying an additional 501 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $79.97 on Tuesday. The firm’s 50 day simple moving average is $68.79 and its two-hundred day simple moving average is $65.09. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. The company has a market capitalization of $9.12 billion, a P/E ratio of 19.55, a P/E/G ratio of 1.76 and a beta of 1.23. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $103.82.

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

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.2%. Eastman Chemical’s dividend payout ratio is 82.15%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on EMN shares. Bank of America raised their price target on Eastman Chemical from $74.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Citigroup boosted their price target on Eastman Chemical from $75.00 to $78.00 and gave the company a “buy” rating in a research note on Tuesday, February 3rd. UBS Group lowered their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada restated a “sector perform” rating and set a $79.00 target price on shares of Eastman Chemical in a research report on Wednesday, February 4th. Finally, Evercore reduced their target price on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $78.86.

Eastman Chemical Company 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.