Eastman Chemical (NYSE:EMN) Holdings Boosted by Blackhawk Capital Partners LLC.

Blackhawk Capital Partners LLC. grew its holdings in Eastman Chemical (NYSE:EMN) by 16.3% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,001 shares of the basic materials company’s stock after purchasing an additional 421 shares during the period. Blackhawk Capital Partners LLC.’s holdings in Eastman Chemical were worth $274,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp lifted its position in Eastman Chemical by 1.4% in the 3rd quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock worth $595,820,000 after buying an additional 70,692 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock worth $593,233,000 after acquiring an additional 282,458 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Eastman Chemical by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock worth $310,628,000 after acquiring an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in Eastman Chemical by 3.2% during 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 purchasing an additional 83,504 shares during the last quarter. Finally, Truist Financial Corp grew its stake in Eastman Chemical by 8.6% in the fourth quarter. Truist Financial Corp now owns 1,158,107 shares of the basic materials company’s stock valued at $105,758,000 after purchasing an additional 92,162 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

EMN opened at $98.15 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock’s 50 day moving average price is $94.45 and its two-hundred day moving average price is $100.31. The firm has a market capitalization of $11.30 billion, a P/E ratio of 12.78, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. Eastman Chemical has a 12-month low of $85.28 and a 12-month high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, equities analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend 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 research reports. Mizuho lifted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Piper Sandler lifted their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research note on Thursday, February 13th. KeyCorp boosted their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Tuesday, February 4th. Finally, Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $114.08.

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.