Aristides Capital LLC Invests $303,000 in Eastman Chemical (NYSE:EMN)

Aristides Capital LLC purchased a new stake in Eastman Chemical (NYSE:EMN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,321 shares of the basic materials company’s stock, valued at approximately $303,000.

Several other institutional investors have also made changes to their positions in EMN. Crews Bank & Trust bought a new stake in shares of Eastman Chemical during the 4th quarter valued at $27,000. Picton Mahoney Asset Management increased its position in shares of Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 124 shares during the period. Assetmark Inc. raised its stake in Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the fourth quarter worth about $35,000. Finally, Dunhill Financial LLC increased its holdings in Eastman Chemical by 94.7% in the 3rd 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 period. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. UBS Group reduced their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Royal Bank of Canada lifted their price target on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 4th. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their price objective for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Finally, Piper Sandler boosted their target price on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $112.83.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $75.48 on Monday. The business has a 50 day moving average of $94.76 and a 200-day moving average of $98.67. The company has a market capitalization of $8.69 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 1 year low of $73.78 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results 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 net margin of 9.65% and a return on equity of 16.27%. On average, equities research analysts predict that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced 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 4.40%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s payout ratio is presently 43.23%.

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.