10,281 Shares in Eastman Chemical Company (NYSE:EMN) Purchased by Buck Wealth Strategies LLC

Buck Wealth Strategies LLC bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 10,281 shares of the basic materials company's stock, valued at approximately $906,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised its position 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 during the period. Assetmark Inc. raised its position in Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical in the fourth quarter valued at approximately $35,000. Headlands Technologies LLC purchased a new stake in Eastman Chemical in the fourth quarter valued at approximately $43,000. Finally, Orion Capital Management LLC purchased a new stake in Eastman Chemical in the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Piper Sandler dropped their price target on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a research note on Monday, April 7th. Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a research note on Thursday, April 3rd. Morgan Stanley dropped their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group dropped their price target on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Finally, KeyCorp dropped their price target on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $98.54.

Eastman Chemical Stock Up 1.1%

Shares of EMN stock traded up $0.80 on Monday, reaching $75.05. 1,658,999 shares of the stock were exchanged, compared to its average volume of 1,186,813. The company has a current ratio of 1.72, a quick ratio of 0.79 and a debt-to-equity ratio of 0.80. The business's 50 day moving average price is $78.62 and its 200 day moving average price is $87.54. The company has a market capitalization of $8.67 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 1.73 and a beta of 1.25. Eastman Chemical Company has a twelve month low of $70.90 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a net margin of 9.85% and a return on equity of 16.59%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same period in the previous year, the company earned $1.61 earnings per share. Eastman Chemical's quarterly revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.42%. Eastman Chemical's payout ratio is 42.24%.

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.