Clark Capital Management Group Inc. grew its holdings in shares of Eastman Chemical (NYSE:EMN – Get Rating) by 3.3% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 324,958 shares of the basic materials company’s stock after purchasing an additional 10,384 shares during the period. Clark Capital Management Group Inc. owned approximately 0.24% of Eastman Chemical worth $39,291,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Yousif Capital Management LLC acquired a new position in Eastman Chemical during the 4th quarter worth approximately $2,234,000. Xponance Inc. grew its holdings in shares of Eastman Chemical by 22.4% in the 4th quarter. Xponance Inc. now owns 8,496 shares of the basic materials company’s stock worth $1,027,000 after acquiring an additional 1,555 shares during the period. Savant Capital LLC grew its holdings in shares of Eastman Chemical by 6.2% in the 4th quarter. Savant Capital LLC now owns 3,577 shares of the basic materials company’s stock worth $432,000 after acquiring an additional 209 shares during the period. Allianz Asset Management GmbH grew its holdings in shares of Eastman Chemical by 593.7% in the 3rd quarter. Allianz Asset Management GmbH now owns 69,832 shares of the basic materials company’s stock worth $7,035,000 after acquiring an additional 59,765 shares during the period. Finally, GSA Capital Partners LLP grew its holdings in shares of Eastman Chemical by 152.0% in the 3rd quarter. GSA Capital Partners LLP now owns 9,934 shares of the basic materials company’s stock worth $1,001,000 after acquiring an additional 5,992 shares during the period. Institutional investors own 87.40% of the company’s stock.
NYSE:EMN traded up $0.61 during mid-day trading on Monday, hitting $102.57. The company had a trading volume of 20,244 shares, compared to its average volume of 1,221,949. The business has a fifty day simple moving average of $107.24 and a 200-day simple moving average of $113.63. The company has a current ratio of 1.57, a quick ratio of 1.04 and a debt-to-equity ratio of 0.73. Eastman Chemical has a 1 year low of $98.24 and a 1 year high of $130.47. The firm has a market capitalization of $13.22 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.12 and a beta of 1.43.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 8th. Shareholders of record on Wednesday, June 15th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 2.96%. The ex-dividend date is Tuesday, June 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 49.75%.
A number of equities research analysts recently weighed in on the company. Stifel Nicolaus lowered their price target on Eastman Chemical to $155.00 in a report on Monday, May 2nd. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Thursday, April 28th. Barclays lowered their target price on Eastman Chemical from $130.00 to $120.00 in a report on Monday, May 2nd. Deutsche Bank Aktiengesellschaft lowered their target price on Eastman Chemical from $135.00 to $125.00 in a report on Wednesday, May 4th. Finally, Wolfe Research reiterated a “peer perform” rating and set a $114.00 target price (down previously from $130.00) on shares of Eastman Chemical in a report on Tuesday, April 19th. Six research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical has a consensus rating of “Buy” and a consensus target price of $129.69.
In other Eastman Chemical news, SVP Mark K. Cox sold 4,858 shares of the firm’s stock in a transaction dated Friday, February 25th. The stock was sold at an average price of $120.79, for a total value of $586,797.82. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 1.93% of the company’s stock.
Eastman Chemical Profile (Get Rating)
Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.
- Get a free copy of the StockNews.com research report on Eastman Chemical (EMN)
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