Atria Wealth Solutions Inc. Buys Shares of 15,424 Eastman Chemical (NYSE:EMN)

Atria Wealth Solutions Inc. bought a new stake in Eastman Chemical (NYSE:EMN) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 15,424 shares of the basic materials company’s stock, valued at approximately $1,409,000.

Other institutional investors have also recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in Eastman Chemical in the 4th quarter valued at $27,000. Dunhill Financial LLC raised its position 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 valued at $37,000 after buying an additional 162 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $37,000. Versant Capital Management Inc boosted its holdings in shares of Eastman Chemical by 32.4% during the 4th quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company’s stock worth $84,000 after purchasing an additional 224 shares during the last quarter. Finally, CENTRAL TRUST Co grew its holdings in Eastman Chemical by 27.6% in the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock valued at $84,000 after buying an additional 200 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Stock Down 1.9 %

Shares of NYSE EMN opened at $98.63 on Monday. The stock has a market cap of $11.36 billion, a P/E ratio of 12.84, a PEG ratio of 1.22 and a beta of 1.44. The business’s fifty day simple moving average is $94.42 and its 200-day simple moving average is $100.29. Eastman Chemical has a 12-month low of $85.28 and a 12-month high of $114.50. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN) last announced 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%. As a group, equities analysts predict that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.37%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EMN. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Royal Bank of Canada upped their price objective on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Tuesday, February 4th. UBS Group decreased their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. JPMorgan Chase & Co. upped their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their price target for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Eastman Chemical has an average rating of “Moderate Buy” and an average target price of $114.08.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at $4,965,135. The trade was a 18.18 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The shares were 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. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.93% of the company’s stock.

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.