1,908 Shares in Eastman Chemical (NYSE:EMN) Bought by Crestmont Private Wealth LLC

Crestmont Private Wealth LLC bought a new stake in shares of Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,908 shares of the basic materials company’s stock, valued at approximately $214,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. UMB Bank n.a. grew its position in shares of Eastman Chemical by 4.3% during the 3rd quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after buying an additional 96 shares during the last quarter. Lcnb Corp raised its position in shares of Eastman Chemical by 1.7% during the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 103 shares during the period. Kingswood Wealth Advisors LLC lifted its holdings in shares of Eastman Chemical by 2.8% in the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after purchasing an additional 111 shares during the last quarter. Prosperity Consulting Group LLC boosted its position in Eastman Chemical by 4.8% during the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 123 shares during the period. Finally, IFG Advisory LLC grew its stake in Eastman Chemical by 0.9% during the 2nd quarter. IFG Advisory LLC now owns 15,438 shares of the basic materials company’s stock worth $1,513,000 after buying an additional 137 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Trading Up 0.4 %

Shares of NYSE:EMN opened at $110.57 on Friday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. The stock has a market capitalization of $13.01 billion, a price-to-earnings ratio of 14.25, a PEG ratio of 0.83 and a beta of 1.44. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $114.50. The company has a 50 day moving average price of $102.69 and a 200 day moving average price of $100.26.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same period in the previous year, the firm posted $1.99 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. On average, research analysts anticipate that Eastman Chemical will post 7.67 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 2.93%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s payout ratio is 41.75%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Royal Bank of Canada upped their target price on shares of Eastman Chemical from $100.00 to $107.00 and gave the stock a “sector perform” rating in a research report on Friday. Deutsche Bank Aktiengesellschaft lifted their price target on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a report on Monday, July 29th. Piper Sandler reissued a “neutral” rating and issued a $105.00 price objective on shares of Eastman Chemical in a report on Tuesday, July 30th. Finally, Citigroup cut their target price on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.53.

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.