Prudent Man Advisors LLC Sells 1,029 Shares of Eastman Chemical (NYSE:EMN)

Prudent Man Advisors LLC decreased its holdings in Eastman Chemical (NYSE:EMN) by 13.7% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,507 shares of the basic materials company’s stock after selling 1,029 shares during the quarter. Prudent Man Advisors LLC’s holdings in Eastman Chemical were worth $594,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crews Bank & Trust bought a new position in Eastman Chemical during the fourth quarter valued at approximately $27,000. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at $35,000. Dunhill Financial LLC lifted its holdings in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after buying an additional 162 shares during the period. Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical in the fourth quarter worth $37,000. Finally, Proficio Capital Partners LLC purchased a new stake in Eastman Chemical during the fourth quarter valued at $75,000. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on EMN. JPMorgan Chase & Co. raised their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Piper Sandler upped their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. KeyCorp raised their price objective on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Stock Up 0.9 %

Shares of NYSE EMN opened at $97.81 on Friday. Eastman Chemical has a 1 year low of $86.59 and a 1 year high of $114.50. The firm has a 50-day simple moving average of $94.80 and a two-hundred day simple moving average of $100.29. The company has a market cap of $11.26 billion, a P/E ratio of 12.74, a PEG ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

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

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a yield of 3.39%. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

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.