67,881 Shares in Eastman Chemical Company $EMN Purchased by Bar Harbor Wealth Management

Key Points

• Bar Harbor Wealth Management opened a new position of 67,881 shares in Eastman Chemical (NYSE: EMN) in Q4, worth about $4.33 million, while institutional investors own roughly 83.65% of the company.
• Wall Street action is mixed — UBS and Citigroup raised price targets and some analysts upgraded coverage, but the consensus rating remains a "Hold" with a $79.31 average target price.
• Eastman slightly missed quarterly estimates (EPS $0.75 vs. $0.76) with revenue down 12.1% year-over-year, and it pays a quarterly dividend of $0.84 (annualized $3.36) for a 4.5% yield

Bar Harbor Wealth Management acquired a new position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 67,881 shares of the basic materials company's stock, valued at approximately $4,333,000. Bar Harbor Wealth Management owned about 0.06% of Eastman Chemical as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. MUFG Securities EMEA plc acquired a new position in Eastman Chemical in the 2nd quarter valued at approximately $25,000. Lodestone Wealth Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at approximately $33,000. Rothschild Investment LLC raised its holdings in Eastman Chemical by 65.6% in the 3rd quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company's stock valued at $36,000 after acquiring an additional 229 shares in the last quarter. Capital Advisors Ltd. LLC raised its holdings in Eastman Chemical by 97.7% in the 4th quarter. Capital Advisors Ltd. LLC now owns 609 shares of the basic materials company's stock valued at $39,000 after acquiring an additional 301 shares in the last quarter. Finally, Financial Consulate Inc. acquired a new position in Eastman Chemical in the 3rd quarter valued at approximately $42,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. UBS Group upped their price target on Eastman Chemical from $80.00 to $88.00 and gave the company a "buy" rating in a report on Thursday. Zacks Research raised Eastman Chemical from a "strong sell" rating to a "hold" rating in a report on Wednesday, March 4th. Wells Fargo & Company reiterated an "equal weight" rating and issued a $70.00 price objective on shares of Eastman Chemical in a research note on Friday, December 19th. Citigroup upped their price objective on Eastman Chemical from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Thursday, March 12th. Finally, Royal Bank Of Canada reiterated a "sector perform" rating and issued a $79.00 price objective on shares of Eastman Chemical in a research note on Wednesday, February 4th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $79.31.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $74.28 on Friday. The company has a market capitalization of $8.48 billion, a PE ratio of 18.16, a PEG ratio of 1.58 and a beta of 1.16. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $84.18. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The stock's fifty day simple moving average is $74.19 and its 200 day simple moving average is $67.02.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The business had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a return on equity of 10.57% and a net margin of 5.42%.The business's quarterly revenue was down 12.1% compared to the same quarter last year. During the same period in the previous year, the business posted $1.87 EPS. On average, research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Investors of record on Friday, March 13th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend was Friday, March 13th. Eastman Chemical's dividend payout ratio (DPR) is presently 82.15%.

About Eastman Chemical

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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