Valeo Financial Advisors LLC Sells 1,280 Shares of Eastman Chemical (NYSE:EMN)

Valeo Financial Advisors LLC trimmed its holdings in shares of Eastman Chemical (NYSE:EMN) by 30.2% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 2,955 shares of the basic materials company’s stock after selling 1,280 shares during the period. Valeo Financial Advisors LLC’s holdings in Eastman Chemical were worth $265,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EMN. First Command Advisory Services Inc. purchased a new stake in shares of Eastman Chemical in the third quarter worth $26,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Eastman Chemical during the 4th quarter valued at about $26,000. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical during the 2nd quarter valued at about $33,000. Money Concepts Capital Corp raised its holdings in Eastman Chemical by 435.0% in the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock worth $35,000 after buying an additional 348 shares during the last quarter. Finally, Sound Income Strategies LLC lifted its stake in shares of Eastman Chemical by 213.8% in the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after buying an additional 278 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the business’s stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.28% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Royal Bank of Canada reduced their price target on shares of Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. Stifel Nicolaus lowered their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Citigroup lifted their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. Wells Fargo & Company increased their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Finally, UBS Group lifted their price objective on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $97.13.

Eastman Chemical Price Performance

NYSE EMN opened at $97.32 on Tuesday. The stock has a market cap of $11.44 billion, a price-to-earnings ratio of 12.99, a PEG ratio of 1.08 and a beta of 1.54. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $102.71. The company’s 50 day moving average is $91.64 and its two-hundred day moving average is $85.19. 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 (NYSE:EMN) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $2.21 billion for 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%. The company’s revenue was down 7.0% on a year-over-year basis. During the same period last year, the firm earned $0.89 EPS. As a group, research analysts anticipate that Eastman Chemical will post 7.7 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.26%.

About Eastman Chemical

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.