Eastman Chemical (NYSE:EMN) Shares Purchased by Global Retirement Partners LLC

Global Retirement Partners LLC increased its holdings in shares of Eastman Chemical (NYSE:EMN) by 1.4% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,268 shares of the basic materials company’s stock after purchasing an additional 132 shares during the quarter. Global Retirement Partners LLC’s holdings in Eastman Chemical were worth $846,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EMN. Allspring Global Investments Holdings LLC increased its position in Eastman Chemical by 118.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,578 shares of the basic materials company’s stock worth $1,968,000 after purchasing an additional 9,517 shares in the last quarter. Private Advisor Group LLC increased its position in Eastman Chemical by 10.4% during the 3rd quarter. Private Advisor Group LLC now owns 11,426 shares of the basic materials company’s stock worth $1,279,000 after purchasing an additional 1,081 shares in the last quarter. International Assets Investment Management LLC acquired a new stake in Eastman Chemical during the 3rd quarter worth approximately $5,163,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Eastman Chemical during the 3rd quarter worth approximately $277,000. Finally, Dakota Wealth Management increased its position in Eastman Chemical by 74.9% during the 3rd quarter. Dakota Wealth Management now owns 38,975 shares of the basic materials company’s stock worth $4,364,000 after purchasing an additional 16,695 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $98.63 on Friday. The stock has a market cap of $11.36 billion, a P/E ratio of 12.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The stock has a 50 day moving average of $94.42 and a 200-day moving average of $100.24. Eastman Chemical has a 52 week low of $85.28 and a 52 week high of $114.50.

Eastman Chemical (NYSE:EMN) last announced 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 return on equity of 16.27% and a net margin of 9.65%. On average, analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.37%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analyst Weigh In

EMN has been the subject of several recent research reports. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Barclays lowered their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Eastman Chemical has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Insider Buying and Selling

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was 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 approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of the firm’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now owns 4,403 shares in the company, valued at $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by company insiders.

Eastman Chemical Company 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.