Motley Fool Wealth Management LLC Sells 863 Shares of Eastman Chemical (NYSE:EMN)

Motley Fool Wealth Management LLC reduced its stake in Eastman Chemical (NYSE:EMN) by 1.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 65,672 shares of the basic materials company’s stock after selling 863 shares during the period. Motley Fool Wealth Management LLC owned approximately 0.06% of Eastman Chemical worth $5,895,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Tucker Asset Management LLC grew its holdings in Eastman Chemical by 19.5% during the 3rd quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 142 shares during the last quarter. Atria Wealth Solutions Inc. grew its holdings in Eastman Chemical by 4.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock valued at $310,000 after purchasing an additional 151 shares during the last quarter. Parkside Financial Bank & Trust grew its holdings in Eastman Chemical by 26.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock valued at $62,000 after purchasing an additional 169 shares during the last quarter. Steph & Co. grew its holdings in Eastman Chemical by 12.8% during the 3rd quarter. Steph & Co. now owns 1,765 shares of the basic materials company’s stock valued at $135,000 after purchasing an additional 200 shares during the last quarter. Finally, Allworth Financial LP grew its holdings in Eastman Chemical by 16.7% during the 4th quarter. Allworth Financial LP now owns 1,434 shares of the basic materials company’s stock valued at $129,000 after purchasing an additional 205 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several brokerages recently commented on EMN. Royal Bank of Canada upped their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a report on Friday, April 19th. Mizuho boosted their price objective on shares of Eastman Chemical from $91.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday. Citigroup boosted their price objective on shares of Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company boosted their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus lowered their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $99.31.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 1.93% of the stock is currently owned by company insiders.

Eastman Chemical Stock Down 0.6 %

Shares of NYSE EMN traded down $0.57 during trading hours on Friday, hitting $95.56. 1,337,744 shares of the stock were exchanged, compared to its average volume of 837,267. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The company has a market cap of $11.24 billion, a PE ratio of 12.31, a PEG ratio of 1.06 and a beta of 1.54. The firm has a fifty day moving average price of $93.78 and a 200-day moving average price of $86.23. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $102.71.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.95%. The firm had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same quarter in the previous year, the business posted $1.63 EPS. Eastman Chemical’s revenue was down 4.2% on a year-over-year basis. On average, sell-side analysts expect that Eastman Chemical will post 7.71 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.81 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.39%. Eastman Chemical’s payout ratio is 41.75%.

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.