IQ EQ FUND MANAGEMENT IRELAND Ltd Acquires 2,806 Shares of Eastman Chemical (NYSE:EMN)

IQ EQ FUND MANAGEMENT IRELAND Ltd lifted its holdings in Eastman Chemical (NYSE:EMN) by 12.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,616 shares of the basic materials company’s stock after purchasing an additional 2,806 shares during the quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd’s holdings in Eastman Chemical were worth $2,868,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the business. Iams Wealth Management LLC lifted its position in shares of Eastman Chemical by 12.8% in the third quarter. Iams Wealth Management LLC now owns 8,365 shares of the basic materials company’s stock worth $937,000 after purchasing an additional 949 shares in the last quarter. Sound Income Strategies LLC lifted its position in shares of Eastman Chemical by 1,603.8% in the third quarter. Sound Income Strategies LLC now owns 2,232 shares of the basic materials company’s stock worth $250,000 after purchasing an additional 2,101 shares in the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Eastman Chemical in the third quarter worth $237,000. Crestmont Private Wealth LLC bought a new stake in shares of Eastman Chemical in the third quarter worth $214,000. Finally, Exchange Traded Concepts LLC lifted its position in shares of Eastman Chemical by 784.4% in the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 604 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 1.4 %

EMN stock opened at $108.74 on Thursday. 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 company’s 50-day simple moving average is $103.61 and its 200 day simple moving average is $100.46. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $114.50. The company has a market capitalization of $12.79 billion, a PE ratio of 14.01, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.01 by $0.14. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period in the prior year, the company posted $1.99 earnings per share. Eastman Chemical’s revenue was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.67 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were paid a $0.81 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 2.98%. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Piper Sandler reaffirmed a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Citigroup dropped their price target on shares of Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Royal Bank of Canada upped their price target 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, October 11th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $110.20.

Eastman Chemical 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.