Yousif Capital Management LLC Sells 215 Shares of Eastman Chemical (NYSE:EMN)

Yousif Capital Management LLC decreased its position in Eastman Chemical (NYSE:EMN) by 1.6% in the 4th quarter, HoldingsChannel.com reports. The fund owned 13,383 shares of the basic materials company’s stock after selling 215 shares during the quarter. Yousif Capital Management LLC’s holdings in Eastman Chemical were worth $1,222,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its position in shares of Eastman Chemical by 1.4% during the 3rd quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock worth $595,820,000 after buying an additional 70,692 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Eastman Chemical by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after acquiring an additional 282,458 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Eastman Chemical by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock worth $310,628,000 after acquiring an additional 13,381 shares during the period. Massachusetts Financial Services Co. MA boosted its position in Eastman Chemical by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock worth $306,093,000 after purchasing an additional 83,504 shares during the last quarter. Finally, Thrivent Financial for Lutherans grew its stake in Eastman Chemical by 15.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock valued at $106,070,000 after purchasing an additional 126,301 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.4 %

Eastman Chemical stock opened at $101.64 on Friday. The stock has a market cap of $11.78 billion, a P/E ratio of 13.23, a PEG ratio of 1.24 and a beta of 1.44. Eastman Chemical has a fifty-two week low of $81.76 and a fifty-two week high of $114.50. The firm’s fifty day moving average price is $94.26 and its 200-day moving average price is $100.18. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. Equities research analysts forecast that Eastman Chemical will post 8.47 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.27%. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on EMN shares. JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. Royal Bank of Canada raised their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. KeyCorp upped their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Barclays decreased their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $113.77.

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.