Klein Pavlis & Peasley Financial Inc. Has $914,000 Stake in Eastman Chemical (NYSE:EMN)

Klein Pavlis & Peasley Financial Inc. boosted its holdings in shares of Eastman Chemical (NYSE:EMN) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,010 shares of the basic materials company’s stock after buying an additional 512 shares during the period. Klein Pavlis & Peasley Financial Inc.’s holdings in Eastman Chemical were worth $914,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. State Street Corp increased its stake in Eastman Chemical by 1.4% in the third quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock valued at $595,820,000 after acquiring an additional 70,692 shares during the period. Franklin Resources Inc. lifted its stake in Eastman Chemical by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock worth $593,233,000 after purchasing an additional 282,458 shares during the period. Geode Capital Management LLC increased its position in shares of Eastman Chemical by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock worth $310,628,000 after purchasing an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Eastman Chemical by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock valued at $306,093,000 after buying an additional 83,504 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Eastman Chemical by 15.4% during the third quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock worth $106,070,000 after buying an additional 126,301 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

NYSE EMN opened at $101.85 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The stock has a market cap of $11.81 billion, a price-to-earnings ratio of 13.26, a PEG ratio of 0.73 and a beta of 1.44. The business has a 50 day simple moving average of $94.59 and a 200 day simple moving average of $100.08. Eastman Chemical has a 52-week low of $81.00 and a 52-week high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data 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 16.40%. Analysts anticipate that Eastman Chemical will post 8.46 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. Eastman Chemical’s payout ratio is 43.23%.

Insider Transactions at Eastman Chemical

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. 2.28% of the stock is owned by insiders.

Analysts Set New Price Targets

EMN has been the topic of several recent analyst reports. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. KeyCorp raised their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday. UBS Group dropped their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Barclays reduced their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday. Finally, Piper Sandler cut their price target on Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research note on Tuesday, January 7th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $113.54.

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.