Eastman Chemical (NYSE:EMN) Holdings Cut by Czech National Bank

Czech National Bank lowered its holdings in Eastman Chemical (NYSE:EMN) by 0.6% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,637 shares of the basic materials company’s stock after selling 128 shares during the period. Czech National Bank’s holdings in Eastman Chemical were worth $2,068,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Mather Group LLC. bought a new position in Eastman Chemical in the first quarter worth about $125,000. Butensky & Cohen Financial Security Inc. raised its holdings in shares of Eastman Chemical by 1.5% during the first quarter. Butensky & Cohen Financial Security Inc. now owns 45,492 shares of the basic materials company’s stock valued at $4,559,000 after buying an additional 689 shares during the last quarter. CWM LLC raised its holdings in shares of Eastman Chemical by 8.4% during the first quarter. CWM LLC now owns 4,378 shares of the basic materials company’s stock valued at $439,000 after buying an additional 339 shares during the last quarter. Canandaigua National Bank & Trust Co. raised its holdings in shares of Eastman Chemical by 7.2% during the first quarter. Canandaigua National Bank & Trust Co. now owns 22,014 shares of the basic materials company’s stock valued at $2,206,000 after buying an additional 1,488 shares during the last quarter. Finally, Nomura Holdings Inc. bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $214,000. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.5 %

NYSE EMN opened at $98.61 on Friday. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $105.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39. The stock has a market cap of $11.60 billion, a price-to-earnings ratio of 12.71, a PEG ratio of 1.06 and a beta of 1.51. The firm’s 50 day moving average price is $99.11 and its two-hundred day moving average price is $92.79.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. The company had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter last year, the business posted $1.63 EPS. Equities analysts anticipate that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date is Monday, June 17th. Eastman Chemical’s dividend payout ratio is presently 41.75%.

Insider Buying and Selling

In related news, SVP Adrian James Holt sold 1,975 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.22, for a total value of $195,959.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, SVP Adrian James Holt sold 1,975 shares of the company’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.22, for a total value of $195,959.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Mark J. Costa sold 102,390 shares of the company’s stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares of the company’s stock, valued at $39,878,545.22. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,027 shares of company stock worth $10,885,638. Corporate insiders own 1.93% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on EMN shares. Wells Fargo & Company lifted their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a report on Thursday, April 11th. Bank of America lowered their price objective on shares of Eastman Chemical from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Royal Bank of Canada lifted their price target on shares of Eastman Chemical from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Barclays lifted their price target on shares of Eastman Chemical from $85.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Monday, May 6th. Finally, StockNews.com lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Thursday. Seven equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus target price of $107.50.

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.