Crossmark Global Holdings Inc. Decreases Position in Eastman Chemical (NYSE:EMN)

Crossmark Global Holdings Inc. decreased its position in shares of Eastman Chemical (NYSE:EMNGet Rating) by 9.3% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,295 shares of the basic materials company’s stock after selling 751 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Eastman Chemical were worth $519,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Castle Wealth Management LLC acquired a new position in Eastman Chemical during the second quarter worth approximately $30,000. First Command Bank acquired a new position in shares of Eastman Chemical in the second quarter valued at approximately $30,000. Venture Visionary Partners LLC acquired a new position in shares of Eastman Chemical in the second quarter valued at approximately $31,000. Addison Advisors LLC acquired a new position in shares of Eastman Chemical in the third quarter valued at approximately $25,000. Finally, Twin Lakes Capital Management LLC acquired a new position in shares of Eastman Chemical in the third quarter valued at approximately $36,000. Institutional investors and hedge funds own 83.42% of the company’s stock.

Eastman Chemical Stock Up 3.2 %

EMN opened at $89.82 on Monday. The business’s fifty day moving average is $85.58 and its two-hundred day moving average is $85.51. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.66 and a current ratio of 1.28. The company has a market cap of $10.78 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 2.02 and a beta of 1.46. Eastman Chemical has a one year low of $69.91 and a one year high of $124.85.

Eastman Chemical (NYSE:EMNGet Rating) last issued its quarterly earnings data on Thursday, October 27th. The basic materials company reported $2.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.00 by $0.05. Eastman Chemical had a return on equity of 19.79% and a net margin of 10.73%. The business had revenue of $2.71 billion for the quarter, compared to the consensus estimate of $2.57 billion. Analysts anticipate that Eastman Chemical will post 8.19 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 6th. Stockholders of record on Thursday, December 15th were given a $0.79 dividend. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.76. This represents a $3.16 annualized dividend and a dividend yield of 3.52%. The ex-dividend date of this dividend was Wednesday, December 14th. Eastman Chemical’s dividend payout ratio is currently 34.73%.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of recent research reports. Citigroup boosted their target price on Eastman Chemical from $75.00 to $90.00 and gave the company a “neutral” rating in a report on Thursday, December 15th. Morgan Stanley dropped their price objective on Eastman Chemical from $165.00 to $115.00 and set an “overweight” rating on the stock in a report on Wednesday, October 12th. Tudor, Pickering, Holt & Co. raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Tuesday, November 8th. Wells Fargo & Company dropped their price objective on Eastman Chemical from $95.00 to $80.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 18th. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $98.00 to $108.00 in a report on Wednesday, January 11th. Eleven equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical currently has an average rating of “Hold” and a consensus target price of $98.38.

Eastman Chemical Profile

(Get Rating)

Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Additives and Functional Products, Advanced Materials, Chemical Intermediates and Fibers. The Additives and Functional Products segment includes chemicals for products in the transportation, consumables, building and construction, animal nutrition, crop protection, energy, personal and home care, and other markets.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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