Raymond James Trust N.A. boosted its position in shares of Eastman Chemical (NYSE:EMN) by 6.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 36,283 shares of the basic materials company’s stock after buying an additional 2,152 shares during the period. Raymond James Trust N.A.’s holdings in Eastman Chemical were worth $2,876,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in EMN. Advantage Investment Management LLC increased its holdings in Eastman Chemical by 451.6% in the 3rd quarter. Advantage Investment Management LLC now owns 513 shares of the basic materials company’s stock valued at $38,000 after purchasing an additional 420 shares during the last quarter. FTB Advisors Inc. lifted its stake in Eastman Chemical by 49.5% during the fourth quarter. FTB Advisors Inc. now owns 598 shares of the basic materials company’s stock worth $47,000 after purchasing an additional 198 shares in the last quarter. CSat Investment Advisory L.P. boosted its position in shares of Eastman Chemical by 97.0% during the second quarter. CSat Investment Advisory L.P. now owns 652 shares of the basic materials company’s stock worth $50,000 after buying an additional 321 shares during the period. Carroll Financial Associates Inc. boosted its position in shares of Eastman Chemical by 154.0% during the fourth quarter. Carroll Financial Associates Inc. now owns 673 shares of the basic materials company’s stock worth $53,000 after buying an additional 408 shares during the period. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Eastman Chemical during the third quarter worth $52,000. Institutional investors and hedge funds own 79.80% of the company’s stock.
NYSE:EMN opened at $76.53 on Wednesday. Eastman Chemical has a 52 week low of $61.22 and a 52 week high of $86.18. The company has a fifty day simple moving average of $77.64 and a two-hundred day simple moving average of $74.53. The company has a quick ratio of 0.84, a current ratio of 1.65 and a debt-to-equity ratio of 0.91. The company has a market cap of $10.17 billion, a price-to-earnings ratio of 9.33, a price-to-earnings-growth ratio of 1.35 and a beta of 1.38.
The business also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 16th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 3.45%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.62. The ex-dividend date of this dividend was Friday, December 13th. Eastman Chemical’s payout ratio is presently 32.20%.
Several equities research analysts recently issued reports on EMN shares. Wells Fargo & Co initiated coverage on Eastman Chemical in a report on Tuesday, October 15th. They issued an “outperform” rating and a $85.00 price objective on the stock. Zacks Investment Research raised Eastman Chemical from a “sell” rating to a “hold” rating and set a $83.00 target price on the stock in a research note on Thursday, January 2nd. Royal Bank of Canada restated a “hold” rating and set a $80.00 target price on shares of Eastman Chemical in a report on Sunday, December 22nd. SunTrust Banks lifted their target price on Eastman Chemical to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Finally, ValuEngine upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Eastman Chemical has a consensus rating of “Hold” and an average price target of $83.38.
Eastman Chemical Company Profile
Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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