Aaron Wealth Advisors LLC Makes New $220,000 Investment in Eastman Chemical (NYSE:EMN)

Aaron Wealth Advisors LLC purchased a new position in shares of Eastman Chemical (NYSE:EMN) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,966 shares of the basic materials company’s stock, valued at approximately $220,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Wolff Wiese Magana LLC boosted its position in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. bought a new stake in Eastman Chemical during the second quarter valued at about $29,000. Northwest Investment Counselors LLC bought a new stake in Eastman Chemical during the first quarter valued at about $34,000. EntryPoint Capital LLC bought a new stake in Eastman Chemical during the first quarter valued at about $38,000. Finally, Rothschild Investment LLC bought a new stake in Eastman Chemical during the second quarter valued at about $38,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on EMN. Citigroup dropped their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft increased their price target on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada increased their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Barclays increased their price target on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $110.20.

Eastman Chemical Stock Down 0.6 %

Shares of EMN opened at $108.84 on Monday. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $114.50. The stock’s 50 day moving average is $104.17 and its two-hundred day moving average is $100.59. The firm has a market cap of $12.80 billion, a P/E ratio of 14.03, a PEG ratio of 0.83 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.01 by $0.14. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. Eastman Chemical’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 earnings per share. Analysts predict that Eastman Chemical will post 7.67 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were given a $0.81 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 2.98%. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

Eastman Chemical 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.