Eastman Chemical (NYSE:EMN) Shares Sold by Motley Fool Wealth Management LLC

Motley Fool Wealth Management LLC cut its stake in shares of Eastman Chemical (NYSE:EMN) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 87,299 shares of the basic materials company’s stock after selling 3,158 shares during the period. Motley Fool Wealth Management LLC owned about 0.08% of Eastman Chemical worth $7,977,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the 4th quarter worth about $27,000. Picton Mahoney Asset Management raised its holdings in shares of Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 124 shares during the last quarter. Assetmark Inc. raised its holdings in shares of Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $35,000. Finally, Dunhill Financial LLC boosted its stake in shares of Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.8 %

Eastman Chemical stock opened at $89.33 on Wednesday. The company has a market capitalization of $10.29 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a fifty-two week low of $86.70 and a fifty-two week high of $114.50. The firm has a 50 day moving average price of $95.89 and a 200 day moving average price of $99.58.

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

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EMN. Mizuho raised their price objective on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Piper Sandler raised their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

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.