Signaturefd LLC Has $319,000 Stock Position in Eastman Chemical (NYSE:EMN)

Signaturefd LLC raised its holdings in shares of Eastman Chemical (NYSE:EMN) by 10.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,493 shares of the basic materials company’s stock after buying an additional 326 shares during the quarter. Signaturefd LLC’s holdings in Eastman Chemical were worth $319,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of EMN. Crews Bank & Trust bought a new stake in Eastman Chemical in the 4th quarter valued at $27,000. Picton Mahoney Asset Management lifted its stake in shares of Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after buying an additional 124 shares during the period. Assetmark Inc. increased its stake in Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at approximately $35,000. Finally, Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

EMN has been the topic of a number of research reports. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. Piper Sandler increased their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. Royal Bank of Canada raised their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. UBS Group lowered their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Barclays cut their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company 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. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Stock Down 1.5 %

NYSE EMN opened at $88.55 on Friday. The stock’s 50 day simple moving average is $95.92 and its 200 day simple moving average is $99.69. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The firm has a market cap of $10.20 billion, a PE ratio of 11.53, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results 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, sell-side analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.75%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio is 43.23%.

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.