Rowlandmiller & PARTNERS.ADV Invests $100,000 in Eastman Chemical (NYSE:EMN)

Rowlandmiller & PARTNERS.ADV purchased a new position in shares of Eastman Chemical (NYSE:EMN) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 895 shares of the basic materials company’s stock, valued at approximately $100,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Capital Research Global Investors raised its position in shares of Eastman Chemical by 649.8% during the 1st quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock worth $452,139,000 after purchasing an additional 3,909,740 shares during the period. Dimensional Fund Advisors LP grew its holdings in Eastman Chemical by 9.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 2,280,699 shares of the basic materials company’s stock worth $223,435,000 after buying an additional 198,645 shares in the last quarter. Earnest Partners LLC grew its holdings in Eastman Chemical by 1.8% in the 2nd quarter. Earnest Partners LLC now owns 2,240,013 shares of the basic materials company’s stock worth $219,454,000 after buying an additional 40,070 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in Eastman Chemical by 0.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,220,463 shares of the basic materials company’s stock worth $119,569,000 after buying an additional 7,847 shares in the last quarter. Finally, Clearbridge Investments LLC grew its holdings in Eastman Chemical by 18.1% in the 1st quarter. Clearbridge Investments LLC now owns 1,120,604 shares of the basic materials company’s stock worth $112,307,000 after buying an additional 171,945 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on EMN shares. Citigroup decreased their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a report on Thursday, June 27th. Mizuho increased their price target on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Deutsche Bank Aktiengesellschaft increased their price target on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Wells Fargo & Company increased their price target on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.00 price objective on shares of Eastman Chemical in a research note on Tuesday, July 30th. Eight analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $110.20.

Eastman Chemical Trading Down 0.2 %

Eastman Chemical stock opened at $106.72 on Friday. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The company has a market capitalization of $12.56 billion, a price-to-earnings ratio of 13.75, a PEG ratio of 0.83 and a beta of 1.44. Eastman Chemical has a one year low of $68.89 and a one year high of $114.50. The company’s fifty day moving average price is $105.06 and its two-hundred day moving average price is $100.77.

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

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date was Monday, September 16th. Eastman Chemical’s dividend payout ratio is currently 41.75%.

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.