Cwm LLC Has $1.36 Million Stock Holdings in Eastman Chemical Company $EMN

Key Points

• Cwm LLC increased its stake in Eastman Chemical (EMN) by 237.4% in Q4 to 21,248 shares worth about $1.36 million.
• Analyst views are mixed: the consensus rating is a Hold with a $80 target, although several firms (e.g., UBS and JPMorgan) have recently raised targets and upgraded ratings.
• Eastman pays a quarterly dividend of $0.84 (annualized $3.36) for a 4.7% yield, but its dividend payout ratio is elevated at roughly 82%.

Cwm LLC increased its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 237.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 21,248 shares of the basic materials company's stock after buying an additional 14,951 shares during the quarter. Cwm LLC's holdings in Eastman Chemical were worth $1,356,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp lifted its holdings in shares of Eastman Chemical by 24.3% in the 3rd quarter. State Street Corp now owns 5,687,097 shares of the basic materials company's stock worth $363,314,000 after purchasing an additional 1,112,391 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Eastman Chemical by 97.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company's stock worth $119,672,000 after buying an additional 916,023 shares during the last quarter. DAVENPORT & Co LLC acquired a new position in Eastman Chemical during the fourth quarter worth $39,545,000. Arrowstreet Capital Limited Partnership lifted its stake in shares of Eastman Chemical by 576.0% in the third quarter. Arrowstreet Capital Limited Partnership now owns 707,304 shares of the basic materials company's stock valued at $44,596,000 after buying an additional 602,677 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Eastman Chemical by 14.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,052,656 shares of the basic materials company's stock valued at $255,515,000 after buying an additional 509,290 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

EMN has been the topic of several recent research reports. UBS Group raised their price target on shares of Eastman Chemical from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. JPMorgan Chase & Co. raised Eastman Chemical from a "neutral" rating to an "overweight" rating and increased their price objective for the stock from $70.00 to $80.00 in a research note on Tuesday, April 14th. Weiss Ratings upgraded Eastman Chemical from a "sell (d+)" rating to a "hold (c)" rating in a report on Wednesday, February 18th. Bank of America lifted their target price on Eastman Chemical from $74.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Finally, Evercore set a $75.00 price target on Eastman Chemical in a research report on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $80.00.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $71.98 on Monday. The stock has a fifty day simple moving average of $73.19 and a two-hundred day simple moving average of $67.78. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $84.18. The firm has a market cap of $8.21 billion, a price-to-earnings ratio of 17.60, a price-to-earnings-growth ratio of 1.70 and a beta of 1.16. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The firm had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the firm earned $1.87 earnings per share. The business's quarterly revenue was down 12.1% compared to the same quarter last year. Analysts anticipate that Eastman Chemical Company will post 5.9 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th were paid a $0.84 dividend. The ex-dividend date was Friday, March 13th. This represents a $3.36 annualized dividend and a dividend yield of 4.7%. 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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