Brookstone Capital Management Purchases Shares of 143,362 Eastman Chemical Company $EMN

Brookstone Capital Management purchased a new position in Eastman Chemical Company (NYSE:EMN) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 143,362 shares of the basic materials company’s stock, valued at approximately $9,151,000. Brookstone Capital Management owned approximately 0.13% of Eastman Chemical as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently modified their holdings of the stock. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical in the 2nd quarter valued at approximately $25,000. Loomis Sayles & Co. L P purchased a new stake in Eastman Chemical during the 2nd quarter worth approximately $33,000. Rothschild Investment LLC increased its stake in Eastman Chemical by 65.6% during the 3rd quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock valued at $36,000 after purchasing an additional 229 shares in the last quarter. Financial Consulate Inc. acquired a new position in Eastman Chemical during the 3rd quarter valued at approximately $42,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Eastman Chemical in the third quarter worth $44,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Up 5.1%

EMN stock opened at $76.26 on Wednesday. The company has a market capitalization of $8.70 billion, a P/E ratio of 18.65, a price-to-earnings-growth ratio of 1.61 and a beta of 1.20. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $88.73. The firm’s fifty day simple moving average is $73.30 and its 200-day simple moving average is $66.54. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63.

Eastman Chemical (NYSE:EMN) last issued its 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 business had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Eastman Chemical had a return on equity of 10.57% and a net margin of 5.42%.The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period last year, the business earned $1.87 EPS. As a group, equities research analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Friday, March 13th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend is Friday, March 13th. Eastman Chemical’s dividend payout ratio (DPR) is currently 82.15%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on EMN shares. Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft upped their target price on Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Eastman Chemical in a research report on Friday, December 19th. JPMorgan Chase & Co. boosted their price target on Eastman Chemical from $60.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, February 2nd. Finally, Royal Bank Of Canada reissued a “sector perform” rating and issued a $79.00 price objective on shares of Eastman Chemical in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, Eastman Chemical has a consensus rating of “Hold” and a consensus target price of $79.64.

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.