Kestra Advisory Services LLC Cuts Stock Holdings in Eastman Chemical (NYSE:EMN)

Kestra Advisory Services LLC trimmed its position in shares of Eastman Chemical (NYSE:EMNGet Rating) by 32.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,220 shares of the basic materials company’s stock after selling 7,342 shares during the period. Kestra Advisory Services LLC’s holdings in Eastman Chemical were worth $1,081,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust raised its stake in shares of Eastman Chemical by 98.0% during the third quarter. Parkside Financial Bank & Trust now owns 705 shares of the basic materials company’s stock valued at $51,000 after acquiring an additional 349 shares during the last quarter. Personal CFO Solutions LLC raised its stake in shares of Eastman Chemical by 5.3% during the third quarter. Personal CFO Solutions LLC now owns 5,179 shares of the basic materials company’s stock valued at $368,000 after acquiring an additional 263 shares during the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Eastman Chemical by 22.9% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 93,841 shares of the basic materials company’s stock valued at $6,667,000 after acquiring an additional 17,513 shares during the last quarter. Pinnacle Associates Ltd. raised its stake in shares of Eastman Chemical by 3.8% during the third quarter. Pinnacle Associates Ltd. now owns 7,023 shares of the basic materials company’s stock valued at $499,000 after acquiring an additional 260 shares during the last quarter. Finally, SG Americas Securities LLC raised its stake in Eastman Chemical by 56.6% in the third quarter. SG Americas Securities LLC now owns 8,491 shares of the basic materials company’s stock worth $603,000 after buying an additional 3,069 shares in the last quarter. 83.42% of the stock is owned by institutional investors.

Eastman Chemical Trading Down 0.3 %

Shares of EMN stock opened at $90.61 on Wednesday. Eastman Chemical has a 12-month low of $69.91 and a 12-month high of $124.85. The company has a current ratio of 1.28, a quick ratio of 0.66 and a debt-to-equity ratio of 0.73. The firm’s 50 day moving average is $85.72 and its 200 day moving average is $85.51. The stock has a market capitalization of $10.87 billion, a P/E ratio of 9.96, a P/E/G ratio of 2.02 and a beta of 1.46.

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

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 6th. Shareholders of record on Thursday, December 15th were given a $0.79 dividend. The ex-dividend date of this dividend was Wednesday, December 14th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.76. This represents a $3.16 annualized dividend and a yield of 3.49%. Eastman Chemical’s dividend payout ratio (DPR) is presently 34.73%.

Analyst Ratings Changes

EMN has been the subject of a number of research reports. Citigroup increased their price target on shares of Eastman Chemical from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, December 15th. UBS Group increased their price target on shares of Eastman Chemical from $96.00 to $108.00 in a research note on Wednesday, January 4th. Wells Fargo & Company decreased their price target on shares of Eastman Chemical from $95.00 to $80.00 and set an “equal weight” rating for the company in a research note on Tuesday, October 18th. Barclays decreased their price target on shares of Eastman Chemical from $110.00 to $82.00 in a research note on Tuesday, October 11th. Finally, Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and raised their target price for the company from $98.00 to $108.00 in a research note 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’s stock. According to data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Hold” and an average price target of $98.38.

Eastman Chemical Profile

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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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