CWM Advisors LLC lifted its position in shares of Eastman Chemical (NYSE:EMN) by 6.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,930 shares of the basic materials company’s stock after purchasing an additional 447 shares during the period. CWM Advisors LLC’s holdings in Eastman Chemical were worth $549,000 at the end of the most recent reporting period.
Several other institutional investors have also recently added to or reduced their stakes in EMN. Nuveen Asset Management LLC increased its holdings in Eastman Chemical by 2,295.3% in the second quarter. Nuveen Asset Management LLC now owns 334,386 shares of the basic materials company’s stock valued at $26,026,000 after buying an additional 320,426 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Eastman Chemical by 5.2% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 17,102 shares of the basic materials company’s stock worth $1,331,000 after buying an additional 838 shares during the last quarter. United Services Automobile Association boosted its position in shares of Eastman Chemical by 57.8% during the 2nd quarter. United Services Automobile Association now owns 155,565 shares of the basic materials company’s stock worth $12,108,000 after acquiring an additional 56,975 shares in the last quarter. Eaton Vance Management boosted its position in shares of Eastman Chemical by 4.4% during the 2nd quarter. Eaton Vance Management now owns 27,127 shares of the basic materials company’s stock worth $2,111,000 after acquiring an additional 1,142 shares in the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. increased its holdings in shares of Eastman Chemical by 13.6% in the 2nd quarter. Ladenburg Thalmann Financial Services Inc. now owns 10,645 shares of the basic materials company’s stock valued at $833,000 after acquiring an additional 1,271 shares during the last quarter. 79.68% of the stock is owned by institutional investors and hedge funds.
EMN opened at $73.17 on Friday. Eastman Chemical has a one year low of $61.22 and a one year high of $86.18. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.84 and a current ratio of 1.65. The stock has a market capitalization of $9.95 billion, a P/E ratio of 13.28, a price-to-earnings-growth ratio of 1.43 and a beta of 1.38. The business’s 50-day simple moving average is $77.29 and its 200-day simple moving average is $74.44.
Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.94 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.98 by ($0.04). The firm had revenue of $2.33 billion during the quarter, compared to analyst estimates of $2.36 billion. Eastman Chemical had a net margin of 8.12% and a return on equity of 16.58%. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. During the same period last year, the company earned $2.34 earnings per share. On average, equities research analysts forecast that Eastman Chemical will post 7.04 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 16th were given a dividend of $0.66 per share. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 13th. This represents a $2.64 annualized dividend and a yield of 3.61%. Eastman Chemical’s payout ratio is 32.20%.
EMN has been the topic of several research analyst reports. ValuEngine raised Eastman Chemical from a “sell” rating to a “hold” rating in a research report on Wednesday, October 2nd. UBS Group set a $89.00 price target on Eastman Chemical and gave the company a “buy” rating in a report on Friday, October 25th. Zacks Investment Research raised Eastman Chemical from a “sell” rating to a “hold” rating and set a $83.00 price target for the company in a report on Thursday, January 2nd. Wells Fargo & Co increased their price target on shares of Eastman Chemical from $84.00 to $85.00 and gave the company an “overweight” rating in a research note on Wednesday, January 15th. Finally, Royal Bank of Canada reissued a “hold” rating and set a $80.00 price objective on shares of Eastman Chemical in a report on Sunday, December 22nd. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Eastman Chemical presently has a consensus rating of “Hold” and a consensus target price of $82.83.
About Eastman Chemical
Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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