GeoWealth Management LLC Buys 1,344 Shares of Eastman Chemical (NYSE:EMN)

by · The Markets Daily

GeoWealth Management LLC boosted its position in shares of Eastman Chemical (NYSE:EMN – Free Report) by 74.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,161 shares of the basic materials company’s stock after acquiring an additional 1,344 shares during the period. GeoWealth Management LLC’s holdings in Eastman Chemical were worth $289,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in EMN. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the 4th quarter worth about $27,000. Picton Mahoney Asset Management raised its position in Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. lifted its position in Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after buying an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical during the fourth quarter worth approximately $35,000. Finally, Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $37,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Up 3.1 %

NYSE:EMN opened at $79.34 on Wednesday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The business’s 50-day simple moving average is $88.78 and its 200-day simple moving average is $95.63. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The stock has a market capitalization of $9.14 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Sell-side analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.18%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of recent research reports. Citigroup upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $105.00 to $101.00 in a research report on Friday, April 4th. Mizuho upgraded Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price objective for the company in a research report on Thursday, April 3rd. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Barclays lowered their price target on shares of 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. Finally, Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price objective for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat.com, Eastman Chemical currently has an average rating of “Moderate Buy” and an average price target of $107.08.

View Our Latest Stock Analysis on EMN

Eastman Chemical Profile

(Free Report)

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.

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