Quadrature Capital Ltd Has $1.05 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

Quadrature Capital Ltd lowered its position in shares of Eastman Chemical (NYSE:EMN) by 50.7% in the third quarter, Holdings Channel reports. The institutional investor owned 9,393 shares of the basic materials company’s stock after selling 9,669 shares during the period. Quadrature Capital Ltd’s holdings in Eastman Chemical were worth $1,051,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of EMN. Wolff Wiese Magana LLC increased its position in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares during the period. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical in the second quarter valued at approximately $29,000. Northwest Investment Counselors LLC bought a new stake in shares of Eastman Chemical in the third quarter valued at approximately $38,000. Rothschild Investment LLC acquired a new stake in Eastman Chemical during the second quarter worth approximately $38,000. Finally, Friedenthal Financial bought a new position in Eastman Chemical during the 2nd quarter worth $49,000. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

EMN has been the topic of several analyst reports. Mizuho increased their target price on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Tuesday, December 3rd. Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their target price for the company from $114.00 to $119.00 in a research report on Wednesday, October 16th. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price target for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.86.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares in the company, valued at $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at $4,965,135. This represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,021 shares of company stock worth $1,895,948. 1.93% of the stock is currently owned by company insiders.

Eastman Chemical Stock Down 0.4 %

Shares of EMN opened at $101.07 on Friday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a 52 week low of $80.71 and a 52 week high of $114.50. The stock has a market capitalization of $11.72 billion, a price-to-earnings ratio of 13.53, a PEG ratio of 0.81 and a beta of 1.42. The stock has a fifty day moving average of $105.39 and a 200-day moving average of $101.78.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, beating the consensus estimate of $2.14 by $0.12. The firm had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The business’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period last year, the company earned $1.47 earnings per share. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.63 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.28%. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date is Monday, December 16th. Eastman Chemical’s payout ratio is presently 43.37%.

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.