Kingswood Wealth Advisors LLC Purchases Shares of 3,289 Eastman Chemical (NYSE:EMN)

Kingswood Wealth Advisors LLC purchased a new stake in Eastman Chemical (NYSE:EMN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,289 shares of the basic materials company’s stock, valued at approximately $295,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Services Advisors Inc. boosted its holdings in Eastman Chemical by 3.6% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 27,429 shares of the basic materials company’s stock valued at $2,464,000 after purchasing an additional 947 shares during the last quarter. Butensky & Cohen Financial Security Inc. boosted its holdings in Eastman Chemical by 3.1% in the fourth quarter. Butensky & Cohen Financial Security Inc. now owns 44,803 shares of the basic materials company’s stock valued at $4,024,000 after purchasing an additional 1,330 shares during the last quarter. CoreCap Advisors LLC boosted its holdings in Eastman Chemical by 11.7% in the fourth quarter. CoreCap Advisors LLC now owns 12,839 shares of the basic materials company’s stock valued at $1,153,000 after purchasing an additional 1,345 shares during the last quarter. Mutual Advisors LLC boosted its holdings in Eastman Chemical by 2.2% in the fourth quarter. Mutual Advisors LLC now owns 10,762 shares of the basic materials company’s stock valued at $967,000 after purchasing an additional 230 shares during the last quarter. Finally, Klein Pavlis & Peasley Financial Inc. purchased a new stake in Eastman Chemical in the fourth quarter valued at $980,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Up 0.6 %

EMN stock opened at $100.22 on Friday. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 13.38, a PEG ratio of 1.09 and a beta of 1.52. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $100.61. The firm has a 50-day moving average of $87.95 and a two-hundred day moving average of $83.21.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. Eastman Chemical’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.89 EPS. As a group, analysts forecast that Eastman Chemical will post 7.7 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.81 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $3.24 annualized dividend and a dividend yield of 3.23%. Eastman Chemical’s dividend payout ratio (DPR) is 43.26%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on EMN shares. Redburn Atlantic started coverage on shares of Eastman Chemical in a research report on Thursday, February 15th. They issued a “buy” rating and a $110.00 price objective for the company. The Goldman Sachs Group upped their price objective on shares of Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. UBS Group upped their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Citigroup decreased their price objective on shares of Eastman Chemical from $96.00 to $95.00 and set a “buy” rating for the company in a research report on Tuesday, February 6th. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Wednesday, December 13th. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $93.75.

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.