Eastman Chemical (NYSE:EMN) Shares Sold by Motley Fool Asset Management LLC

Motley Fool Asset Management LLC decreased its position in shares of Eastman Chemical (NYSE:EMN) by 2.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,773 shares of the basic materials company’s stock after selling 1,169 shares during the period. Motley Fool Asset Management LLC’s holdings in Eastman Chemical were worth $4,650,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. First Command Advisory Services Inc. purchased a new position in shares of Eastman Chemical in the 3rd quarter valued at approximately $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter valued at approximately $26,000. Sound Income Strategies LLC boosted its stake in shares of Eastman Chemical by 213.8% in the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock valued at $37,000 after buying an additional 278 shares in the last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Eastman Chemical in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.2 %

Eastman Chemical stock traded down $0.24 during trading on Thursday, hitting $96.12. The company’s stock had a trading volume of 1,631,680 shares, compared to its average volume of 1,088,901. The stock has a market capitalization of $11.30 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.07 and a beta of 1.54. The stock’s fifty day moving average is $93.56 and its 200 day moving average is $86.16. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the business earned $0.89 earnings per share. The firm’s quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities research analysts predict that Eastman Chemical will post 7.71 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.26%.

Analyst Ratings Changes

Several brokerages recently issued reports on EMN. Wells Fargo & Company lifted their price objective on Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a report on Thursday, April 11th. Stifel Nicolaus reduced their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a report on Monday, February 5th. KeyCorp boosted their price target on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a report on Tuesday, April 9th. Citigroup boosted their price target on Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a report on Wednesday, April 10th. Finally, Redburn Atlantic started coverage on Eastman Chemical in a report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price target for the company. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $97.81.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 1.93% of the stock is owned by company insiders.

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.