Eastman Chemical (NYSE:EMN) Shares Acquired by Avantax Advisory Services Inc.

Avantax Advisory Services Inc. increased its position in shares of Eastman Chemical (NYSE:EMN) by 1.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,296 shares of the basic materials company’s stock after buying an additional 167 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Eastman Chemical were worth $940,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Victory Capital Management Inc. grew its holdings in shares of Eastman Chemical by 443.1% during the 3rd quarter. Victory Capital Management Inc. now owns 158,253 shares of the basic materials company’s stock worth $17,716,000 after purchasing an additional 129,112 shares during the period. CIBC Asset Management Inc lifted its position in Eastman Chemical by 6.8% in the third quarter. CIBC Asset Management Inc now owns 19,998 shares of the basic materials company’s stock valued at $2,239,000 after buying an additional 1,270 shares during the last quarter. Empowered Funds LLC boosted its stake in Eastman Chemical by 41.4% during the third quarter. Empowered Funds LLC now owns 13,967 shares of the basic materials company’s stock worth $1,564,000 after buying an additional 4,092 shares during the period. Swiss National Bank increased its position in shares of Eastman Chemical by 0.4% during the third quarter. Swiss National Bank now owns 349,100 shares of the basic materials company’s stock valued at $39,082,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Quest Partners LLC purchased a new stake in shares of Eastman Chemical in the 3rd quarter valued at approximately $154,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Up 0.1 %

Shares of Eastman Chemical stock opened at $91.39 on Thursday. Eastman Chemical has a 52-week low of $86.70 and a 52-week high of $114.50. The company has a 50 day moving average of $95.86 and a 200 day moving average of $99.86. 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 $10.53 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts forecast that Eastman Chemical 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 Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.63%. Eastman Chemical’s payout ratio is currently 43.23%.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Barclays dropped their target price on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Mizuho lifted their price objective on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price objective for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and raised their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

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.