Sawyer & Company Inc Sells 1,859 Shares of Eastman Chemical Company (NYSE:EMN)

Sawyer & Company Inc decreased its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 10.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,032 shares of the basic materials company’s stock after selling 1,859 shares during the period. Sawyer & Company Inc’s holdings in Eastman Chemical were worth $1,413,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Picton Mahoney Asset Management raised its stake in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after buying an additional 124 shares during the period. Assetmark Inc. raised its stake in shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth approximately $35,000. Headlands Technologies LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth approximately $43,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth approximately $47,000. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently commented on EMN. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Citigroup raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $105.00 to $101.00 in a report on Friday, April 4th. 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, April 28th. Royal Bank Of Canada raised Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 target price for the company in a report on Wednesday, April 9th. Finally, The Goldman Sachs Group reduced their target price on Eastman Chemical from $112.00 to $87.00 and set a “neutral” rating for the company in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $98.54.

Eastman Chemical Stock Performance

EMN stock opened at $74.25 on Friday. The company has a market cap of $8.57 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.25. Eastman Chemical Company has a 1 year low of $70.90 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.72 and a quick ratio of 0.79. The stock’s fifty day moving average price is $78.71 and its 200-day moving average price is $87.91.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping analysts’ consensus estimates of $1.89 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.35 billion. Eastman Chemical had a return on equity of 16.59% and a net margin of 9.85%. Eastman Chemical’s revenue for the quarter was down .9% compared to the same quarter last year. During the same period last year, the firm earned $1.61 EPS. On average, equities analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be given a $0.83 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.47%. Eastman Chemical’s dividend payout ratio is currently 42.24%.

Eastman Chemical Company 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.