U.S. Capital Wealth Advisors LLC Has $546,000 Holdings in Eastman Chemical (NYSE:EMN)

U.S. Capital Wealth Advisors LLC trimmed its position in Eastman Chemical (NYSE:EMN) by 23.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,075 shares of the basic materials company’s stock after selling 1,864 shares during the quarter. U.S. Capital Wealth Advisors LLC’s holdings in Eastman Chemical were worth $546,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Morgan Stanley lifted its holdings in shares of Eastman Chemical by 1.0% during the 3rd quarter. Morgan Stanley now owns 3,978,856 shares of the basic materials company’s stock worth $305,258,000 after acquiring an additional 39,860 shares during the period. Invesco Ltd. boosted its holdings in Eastman Chemical by 37.4% during the third quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company’s stock valued at $214,496,000 after purchasing an additional 760,974 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Eastman Chemical by 2.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,407,774 shares of the basic materials company’s stock valued at $184,724,000 after purchasing an additional 51,788 shares during the period. Earnest Partners LLC raised its holdings in shares of Eastman Chemical by 19.9% in the 3rd quarter. Earnest Partners LLC now owns 1,807,691 shares of the basic materials company’s stock worth $138,686,000 after buying an additional 299,951 shares in the last quarter. Finally, Northern Trust Corp lifted its position in shares of Eastman Chemical by 1.8% during the 3rd quarter. Northern Trust Corp now owns 1,328,396 shares of the basic materials company’s stock worth $101,915,000 after buying an additional 23,009 shares during the period. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $98.75 on Tuesday. The firm has a fifty day moving average of $95.26 and a two-hundred day moving average of $87.55. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39. The stock has a market capitalization of $11.62 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.06 and a beta of 1.54. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The business had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same quarter in the prior year, the company posted $1.63 earnings per share. The firm’s revenue was down 4.2% on a year-over-year basis. As a group, equities research analysts predict that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.28%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical’s payout ratio is 41.75%.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 2.28% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Wells Fargo & Company upped their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Piper Sandler lifted their price target on shares of Eastman Chemical from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. 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 note on Friday, February 2nd. KeyCorp lifted their target price on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. Finally, Redburn Atlantic initiated coverage on Eastman Chemical in a research report on Thursday, February 15th. They set a “buy” rating and a $110.00 price target on the stock. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $104.18.

Eastman Chemical Company 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.