Hantz Financial Services Inc. Sells 1,128 Shares of Eastman Chemical (NYSE:EMN)

Hantz Financial Services Inc. lowered its stake in Eastman Chemical (NYSE:EMN) by 2.9% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,016 shares of the basic materials company’s stock after selling 1,128 shares during the quarter. Hantz Financial Services Inc.’s holdings in Eastman Chemical were worth $3,472,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Robeco Institutional Asset Management B.V. increased its stake in Eastman Chemical by 1.1% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 19,774 shares of the basic materials company’s stock valued at $1,806,000 after purchasing an additional 206 shares in the last quarter. Foundations Investment Advisors LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $219,000. Pacer Advisors Inc. increased its position in Eastman Chemical by 82.9% in the 4th quarter. Pacer Advisors Inc. now owns 16,123 shares of the basic materials company’s stock valued at $1,472,000 after buying an additional 7,307 shares in the last quarter. Blue Trust Inc. raised its stake in Eastman Chemical by 9.6% during the 4th quarter. Blue Trust Inc. now owns 5,908 shares of the basic materials company’s stock worth $540,000 after buying an additional 519 shares during the period. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management boosted its holdings in Eastman Chemical by 9.7% in the fourth quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 7,492 shares of the basic materials company’s stock worth $684,000 after acquiring an additional 660 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Down 0.1 %

Shares of NYSE EMN opened at $92.62 on Friday. The business’s fifty day moving average price is $94.92 and its 200-day moving average price is $100.01. Eastman Chemical has a one year low of $80.71 and a one year high of $114.50. The stock has a market capitalization of $10.74 billion, a PE ratio of 12.40, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. On average, equities research analysts anticipate that Eastman Chemical will post 7.6 EPS for the current year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were given a $0.83 dividend. The ex-dividend date of this dividend was Monday, December 16th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a dividend yield of 3.58%. Eastman Chemical’s payout ratio is 44.44%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Royal Bank of Canada restated a “sector perform” rating and set a $105.00 price objective on shares of Eastman Chemical in a report on Friday, November 22nd. Citigroup downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Piper Sandler decreased their target price on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $112.92.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This represents a 18.18 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,021 shares of company stock worth $1,895,948. 1.93% of the stock is owned by company insiders.

About Eastman Chemical

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.