U.S. Capital Wealth Advisors LLC Acquires 162 Shares of Eastman Chemical (NYSE:EMN)

U.S. Capital Wealth Advisors LLC grew its holdings in shares of Eastman Chemical (NYSE:EMN) by 4.3% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 3,919 shares of the basic materials company’s stock after buying an additional 162 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Eastman Chemical were worth $358,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. State Street Corp increased its position in shares of Eastman Chemical by 1.4% during the 3rd quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock valued at $595,820,000 after purchasing an additional 70,692 shares during the last quarter. Franklin Resources Inc. grew its holdings in Eastman Chemical by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after buying an additional 282,458 shares in the last quarter. Geode Capital Management LLC grew its holdings in Eastman Chemical by 0.5% during the 3rd quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock valued at $310,628,000 after buying an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA grew its holdings in Eastman Chemical by 3.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock valued at $306,093,000 after buying an additional 83,504 shares in the last quarter. Finally, Thrivent Financial for Lutherans grew its holdings in Eastman Chemical by 15.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock valued at $106,070,000 after buying an additional 126,301 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the sale, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Royal Bank of Canada lifted their target price on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Tuesday. Barclays cut their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday. Deutsche Bank Aktiengesellschaft cut their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a report on Monday, November 4th. Citigroup lowered Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Finally, Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $113.54.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $101.21 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The company has a market cap of $11.73 billion, a PE ratio of 13.18, a P/E/G ratio of 0.73 and a beta of 1.44. The business has a 50 day moving average of $94.53 and a 200 day moving average of $100.09. Eastman Chemical has a 52 week low of $81.00 and a 52 week high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. As a group, equities research analysts forecast that Eastman Chemical will post 8.46 earnings per share for the current year.

Eastman Chemical Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were issued a $0.83 dividend. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.32 dividend on an annualized basis and a yield of 3.28%. Eastman Chemical’s dividend payout ratio is 43.23%.

About Eastman Chemical

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.