Eastman Chemical Company $EMN Shares Sold by Hantz Financial Services Inc.

Hantz Financial Services Inc. decreased its stake in Eastman Chemical Company (NYSE:EMN) by 85.7% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,269 shares of the basic materials company’s stock after selling 31,647 shares during the quarter. Hantz Financial Services Inc.’s holdings in Eastman Chemical were worth $393,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of EMN. Buck Wealth Strategies LLC lifted its holdings in Eastman Chemical by 27.0% in the second quarter. Buck Wealth Strategies LLC now owns 13,061 shares of the basic materials company’s stock valued at $975,000 after acquiring an additional 2,780 shares during the period. Motley Fool Wealth Management LLC increased its holdings in shares of Eastman Chemical by 42.3% during the 2nd quarter. Motley Fool Wealth Management LLC now owns 114,220 shares of the basic materials company’s stock valued at $8,528,000 after purchasing an additional 33,940 shares in the last quarter. Motley Fool Asset Management LLC lifted its stake in shares of Eastman Chemical by 86.7% in the 2nd quarter. Motley Fool Asset Management LLC now owns 92,586 shares of the basic materials company’s stock valued at $6,912,000 after purchasing an additional 42,995 shares during the period. IQ EQ FUND MANAGEMENT IRELAND Ltd boosted its holdings in Eastman Chemical by 1.3% during the second quarter. IQ EQ FUND MANAGEMENT IRELAND Ltd now owns 25,143 shares of the basic materials company’s stock worth $1,877,000 after buying an additional 330 shares in the last quarter. Finally, Teacher Retirement System of Texas grew its position in Eastman Chemical by 74.9% during the second quarter. Teacher Retirement System of Texas now owns 29,656 shares of the basic materials company’s stock valued at $2,214,000 after buying an additional 12,701 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $59.45 on Monday. The stock has a market capitalization of $6.83 billion, a P/E ratio of 8.35, a PEG ratio of 6.16 and a beta of 1.29. The business has a 50 day simple moving average of $64.30 and a two-hundred day simple moving average of $71.78. Eastman Chemical Company has a 12 month low of $56.78 and a 12 month high of $107.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm posted $2.15 earnings per share. The firm’s revenue for the quarter was down 3.2% compared to the same quarter last year. As a group, analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th were issued a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.6%. Eastman Chemical’s dividend payout ratio is presently 46.63%.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on EMN shares. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. The Goldman Sachs Group reduced their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Wells Fargo & Company raised their price objective on Eastman Chemical from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Tuesday, September 16th. Citigroup upped their target price on Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Finally, UBS Group dropped their price target on shares of Eastman Chemical from $86.00 to $75.00 and set a “buy” rating on the stock in a research note on Monday, October 6th. Eight research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Eastman Chemical 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.