Motley Fool Asset Management LLC Has $4.65 Million Stock Position in Eastman Chemical (NYSE:EMN)

Motley Fool Asset Management LLC lowered its stake in Eastman Chemical (NYSE:EMN) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 51,773 shares of the basic materials company’s stock after selling 1,169 shares during the period. Motley Fool Asset Management LLC’s holdings in Eastman Chemical were worth $4,650,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Burns J W & Co. Inc. NY bought a new stake in shares of Eastman Chemical in the 4th quarter valued at $205,000. Cetera Trust Company N.A bought a new position in Eastman Chemical during the 4th quarter worth about $812,000. Wedge Capital Management L L P NC increased its holdings in Eastman Chemical by 17.6% during the 4th quarter. Wedge Capital Management L L P NC now owns 99,419 shares of the basic materials company’s stock worth $8,930,000 after purchasing an additional 14,898 shares in the last quarter. International Assets Investment Management LLC acquired a new position in shares of Eastman Chemical during the 4th quarter worth about $8,592,000. Finally, Invesco Ltd. boosted its stake in shares of Eastman Chemical by 37.4% during the 3rd quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company’s stock worth $214,496,000 after buying an additional 760,974 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.2 %

EMN stock traded down $0.24 during midday trading on Thursday, hitting $96.12. The stock had a trading volume of 1,631,680 shares, compared to its average volume of 1,088,901. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The firm has a market cap of $11.30 billion, a P/E ratio of 12.83, a price-to-earnings-growth ratio of 1.07 and a beta of 1.54. The business has a fifty day moving average price of $93.56 and a two-hundred day moving average price of $86.16.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same period in the previous year, the firm posted $0.89 earnings per share. The business’s revenue was down 7.0% compared to the same quarter last year. On average, sell-side analysts predict that Eastman Chemical will post 7.71 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.37%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s payout ratio is 43.26%.

Analyst Ratings Changes

A number of equities analysts have recently commented on EMN shares. UBS Group increased 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. Citigroup boosted their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company boosted their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 11th. Royal Bank of Canada boosted their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock a “sector perform” rating in a research note on Friday, April 19th. Finally, Redburn Atlantic started coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They set a “buy” rating and a $110.00 target price on the stock. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.81.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were 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 this hyperlink. 1.93% of the stock is currently owned by insiders.

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.