Tlwm Acquires 314 Shares of Eastman Chemical Company (NYSE:EMN)

Tlwm grew its holdings in Eastman Chemical Company (NYSE:EMN) by 3.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,154 shares of the basic materials company’s stock after acquiring an additional 314 shares during the quarter. Tlwm’s holdings in Eastman Chemical were worth $807,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Orion Capital Management LLC bought a new stake in shares of Eastman Chemical in the fourth quarter worth about $47,000. TD Private Client Wealth LLC increased its holdings in shares of Eastman Chemical by 46.4% in the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company’s stock worth $47,000 after acquiring an additional 170 shares in the last quarter. Johnson Financial Group Inc. increased its holdings in shares of Eastman Chemical by 68.5% in the fourth quarter. Johnson Financial Group Inc. now owns 556 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 226 shares in the last quarter. Wayfinding Financial LLC bought a new stake in shares of Eastman Chemical in the first quarter worth about $50,000. Finally, Salem Investment Counselors Inc. increased its holdings in shares of Eastman Chemical by 105.3% in the first quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company’s stock worth $55,000 after acquiring an additional 317 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on EMN. Barclays decreased their price objective on Eastman Chemical from $108.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. UBS Group decreased their price objective on Eastman Chemical from $107.00 to $101.00 and set a “buy” rating for the company in a report on Wednesday, July 9th. Wall Street Zen downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Finally, Wells Fargo & Company decreased their price objective on Eastman Chemical from $90.00 to $70.00 and set an “overweight” rating for the company in a report on Monday, August 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $87.00.

Eastman Chemical Stock Down 0.9%

EMN stock opened at $61.08 on Tuesday. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The business has a 50 day moving average price of $75.40 and a two-hundred day moving average price of $83.14. The company has a market cap of $7.01 billion, a price-to-earnings ratio of 8.58, a P/E/G ratio of 5.75 and a beta of 1.21. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the business earned $2.15 earnings per share. The business’s quarterly revenue was down 3.2% on a year-over-year basis. Analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is presently 46.63%.

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.