Aptus Capital Advisors LLC Takes Position in Eastman Chemical (NYSE:EMN)

Aptus Capital Advisors LLC bought a new stake in shares of Eastman Chemical (NYSE:EMNFree Report) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 3,109 shares of the basic materials company’s stock, valued at approximately $239,000.

Other hedge funds have also bought and sold shares of the company. Oppenheimer & Co. Inc. lifted its position in Eastman Chemical by 14.6% during the second quarter. Oppenheimer & Co. Inc. now owns 27,029 shares of the basic materials company’s stock valued at $2,263,000 after purchasing an additional 3,450 shares during the last quarter. Mackenzie Financial Corp lifted its position in Eastman Chemical by 1.3% during the second quarter. Mackenzie Financial Corp now owns 151,248 shares of the basic materials company’s stock valued at $12,971,000 after purchasing an additional 1,999 shares during the last quarter. ExodusPoint Capital Management LP bought a new stake in Eastman Chemical during the second quarter valued at approximately $403,000. Oppenheimer Asset Management Inc. lifted its position in Eastman Chemical by 2.1% during the second quarter. Oppenheimer Asset Management Inc. now owns 14,906 shares of the basic materials company’s stock valued at $1,248,000 after purchasing an additional 306 shares during the last quarter. Finally, KBC Group NV lifted its position in Eastman Chemical by 241.7% during the second quarter. KBC Group NV now owns 135,312 shares of the basic materials company’s stock valued at $11,328,000 after purchasing an additional 95,708 shares during the last quarter. 82.29% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on the stock. UBS Group lifted their price target on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research note on Friday, February 2nd. KeyCorp lifted their target price on shares of Eastman Chemical from $95.00 to $101.00 and gave the stock an “overweight” rating in a research note on Tuesday, January 9th. Stifel Nicolaus decreased their target price on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research note on Monday, February 5th. The Goldman Sachs Group lifted their target price on shares of Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a research note on Thursday, December 14th. Finally, Citigroup decreased their target price on shares of Eastman Chemical from $96.00 to $95.00 and set a “buy” rating on the stock in a research note on Tuesday, February 6th. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $92.67.

Read Our Latest Stock Analysis on EMN

Eastman Chemical Stock Performance

Shares of EMN stock opened at $82.34 on Monday. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $91.38. The stock has a market cap of $9.76 billion, a PE ratio of 10.99, a price-to-earnings-growth ratio of 0.91 and a beta of 1.53. The company has a current ratio of 1.36, a quick ratio of 0.71 and a debt-to-equity ratio of 0.84. The company’s fifty day moving average price is $86.57 and its 200-day moving average price is $81.78.

Eastman Chemical (NYSE:EMNGet Free Report) last announced its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.27%. Eastman Chemical’s revenue was down 7.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.89 EPS. On average, equities analysts expect that Eastman Chemical will post 7.69 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 5th. Investors of record on Monday, December 18th were paid a $0.81 dividend. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.79. The ex-dividend date was Friday, December 15th. This represents a $3.24 dividend on an annualized basis and a yield of 3.93%. Eastman Chemical’s payout ratio is presently 43.26%.

Eastman Chemical Company Profile

(Free Report)

Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.

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

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