Sanctuary Advisors LLC Has $2.37 Million Stock Position in Eastman Chemical (NYSE:EMN)

Sanctuary Advisors LLC lowered its stake in Eastman Chemical (NYSE:EMN) by 1.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,534 shares of the basic materials company’s stock after selling 474 shares during the period. Sanctuary Advisors LLC’s holdings in Eastman Chemical were worth $2,366,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in EMN. Allspring Global Investments Holdings LLC boosted its position in Eastman Chemical by 118.1% in the third quarter. Allspring Global Investments Holdings LLC now owns 17,578 shares of the basic materials company’s stock valued at $1,968,000 after buying an additional 9,517 shares in the last quarter. Private Advisor Group LLC boosted its position in Eastman Chemical by 10.4% in the third quarter. Private Advisor Group LLC now owns 11,426 shares of the basic materials company’s stock valued at $1,279,000 after buying an additional 1,081 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Eastman Chemical in the third quarter valued at approximately $5,163,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Eastman Chemical in the third quarter valued at approximately $277,000. Finally, Dakota Wealth Management boosted its position in Eastman Chemical by 74.9% in the third quarter. Dakota Wealth Management now owns 38,975 shares of the basic materials company’s stock valued at $4,364,000 after buying an additional 16,695 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $98.63 on Friday. Eastman Chemical has a twelve month low of $85.28 and a twelve month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company has a market capitalization of $11.36 billion, a PE ratio of 12.84, a P/E/G ratio of 1.22 and a beta of 1.44. The firm has a fifty day simple moving average of $94.42 and a 200 day simple moving average of $100.24.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, sell-side analysts forecast that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. KeyCorp lifted their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price target for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Finally, Barclays cut their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $114.08.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.

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.