Coldstream Capital Management Inc. Reduces Position in Eastman Chemical (NYSE:EMN)

Coldstream Capital Management Inc. trimmed its position in Eastman Chemical (NYSE:EMN) by 2.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,908 shares of the basic materials company’s stock after selling 159 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Eastman Chemical were worth $540,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Private Trust Co. NA lifted its holdings in Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock worth $76,000 after buying an additional 103 shares during the last quarter. Blue Trust Inc. lifted its stake in Eastman Chemical by 2.2% during the fourth quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 116 shares during the last quarter. Picton Mahoney Asset Management boosted its holdings in Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Caprock Group LLC boosted its holdings in Eastman Chemical by 4.2% in the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock valued at $295,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its stake in Eastman Chemical by 1.4% in the fourth quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 132 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently issued reports on EMN shares. JPMorgan Chase & Co. restated a “neutral” rating and issued a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a report on Monday. Mizuho raised Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a report on Thursday, April 3rd. Morgan Stanley reduced their target price on Eastman Chemical from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday. StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday. Finally, Barclays reduced their price objective on Eastman Chemical from $108.00 to $85.00 and set an “equal weight” rating for the company in a research note on Tuesday. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus target price of $99.15.

Eastman Chemical Trading Up 0.6 %

NYSE EMN opened at $76.13 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $8.77 billion, a P/E ratio of 9.91, a P/E/G ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 52-week low of $70.90 and a 52-week high of $114.50. The firm has a 50-day moving average price of $86.38 and a 200 day moving average price of $94.51.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The business had revenue of $2.29 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period last year, the firm earned $1.61 EPS. The company’s quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.83 per share. The ex-dividend date was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.36%. Eastman Chemical’s dividend payout ratio (DPR) is presently 42.24%.

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.