Bradley & Co. Private Wealth Management LLC Purchases New Holdings in Eastman Chemical (NYSE:EMN)

Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical (NYSE:EMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 388 shares of the basic materials company’s stock, valued at approximately $35,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at $27,000. Dunhill Financial LLC increased its position in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the period. Stonebridge Financial Group LLC acquired a new stake in Eastman Chemical in the fourth quarter worth about $37,000. Versant Capital Management Inc grew its position in shares of Eastman Chemical by 32.4% during the 4th quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company’s stock worth $84,000 after buying an additional 224 shares during the period. Finally, CENTRAL TRUST Co grew its position in shares of Eastman Chemical by 27.6% during the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock worth $84,000 after buying an additional 200 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on EMN. Piper Sandler lifted their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Citigroup cut 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 research note on Wednesday, December 18th. UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Mizuho boosted their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Trading Up 0.7 %

Shares of NYSE:EMN opened at $98.88 on Wednesday. The company’s 50-day moving average price is $94.52 and its two-hundred day moving average price is $100.33. Eastman Chemical has a one year low of $85.28 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The stock has a market capitalization of $11.39 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its earnings results 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, equities analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s payout ratio is presently 43.23%.

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.