Goelzer Investment Management Inc. Increases Holdings in Eastman Chemical Company $EMN

Goelzer Investment Management Inc. increased its position in Eastman Chemical Company (NYSE:EMN) by 49.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,664 shares of the basic materials company’s stock after buying an additional 10,211 shares during the quarter. Goelzer Investment Management Inc.’s holdings in Eastman Chemical were worth $1,957,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of EMN. Thrivent Financial for Lutherans grew its holdings in shares of Eastman Chemical by 4.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 523,191 shares of the basic materials company’s stock valued at $32,987,000 after purchasing an additional 24,458 shares during the last quarter. Federated Hermes Inc. lifted its stake in Eastman Chemical by 65.5% in the third quarter. Federated Hermes Inc. now owns 109,042 shares of the basic materials company’s stock worth $6,875,000 after purchasing an additional 43,159 shares during the last quarter. HighTower Advisors LLC lifted its stake in Eastman Chemical by 42.7% in the third quarter. HighTower Advisors LLC now owns 47,788 shares of the basic materials company’s stock worth $3,013,000 after purchasing an additional 14,294 shares during the last quarter. Wedge Capital Management L L P NC boosted its position in Eastman Chemical by 26.7% during the third quarter. Wedge Capital Management L L P NC now owns 158,514 shares of the basic materials company’s stock valued at $9,994,000 after buying an additional 33,441 shares during the period. Finally, Strengthening Families & Communities LLC grew its stake in shares of Eastman Chemical by 1,353.7% during the third quarter. Strengthening Families & Communities LLC now owns 37,608 shares of the basic materials company’s stock valued at $2,515,000 after buying an additional 35,021 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on EMN shares. Citigroup lifted their price objective on Eastman Chemical from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Thursday, March 12th. Evercore set a $75.00 target price on Eastman Chemical in a report on Wednesday, February 18th. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 price target on shares of Eastman Chemical in a research report on Friday, December 19th. Weiss Ratings upgraded Eastman Chemical from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, February 18th. Finally, Bank of America increased their price objective on Eastman Chemical from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $79.64.

Eastman Chemical Stock Down 1.7%

Shares of Eastman Chemical stock opened at $71.24 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $89.28. The company has a market cap of $8.13 billion, a P/E ratio of 17.42, a PEG ratio of 1.58 and a beta of 1.20. The company’s fifty day simple moving average is $73.02 and its two-hundred day simple moving average is $66.43.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion during the quarter, compared to analysts’ expectations of $2.03 billion. Eastman Chemical had a return on equity of 10.57% and a net margin of 5.42%.The company’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the prior year, the business posted $1.87 earnings per share. Research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Friday, March 13th will be issued a $0.84 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.36 annualized dividend and a yield of 4.7%. Eastman Chemical’s dividend payout ratio (DPR) is 82.15%.

Eastman Chemical Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.