Eastman Chemical (NYSE:EMN) Shares Purchased by NewSquare Capital LLC

NewSquare Capital LLC grew its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 72,067.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,857 shares of the basic materials company's stock after acquiring an additional 41,799 shares during the period. NewSquare Capital LLC's holdings in Eastman Chemical were worth $3,688,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Wesbanco Bank Inc. grew its holdings in Eastman Chemical by 21.6% during the 1st quarter. Wesbanco Bank Inc. now owns 3,979 shares of the basic materials company's stock worth $351,000 after acquiring an additional 706 shares in the last quarter. First Citizens Bank & Trust Co. increased its holdings in Eastman Chemical by 8.3% in the first quarter. First Citizens Bank & Trust Co. now owns 76,219 shares of the basic materials company's stock valued at $6,716,000 after buying an additional 5,847 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in Eastman Chemical by 3.1% during the 1st quarter. Wedge Capital Management L L P NC now owns 108,918 shares of the basic materials company's stock worth $9,597,000 after buying an additional 3,252 shares during the last quarter. Curat Global LLC acquired a new position in shares of Eastman Chemical in the 1st quarter worth approximately $79,000. Finally, Thurston Springer Miller Herd & Titak Inc. increased its holdings in shares of Eastman Chemical by 47.7% in the 1st quarter. Thurston Springer Miller Herd & Titak Inc. now owns 672 shares of the basic materials company's stock valued at $59,000 after acquiring an additional 217 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts recently issued reports on EMN shares. JPMorgan Chase & Co. restated a "neutral" rating and set a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Morgan Stanley reduced their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. UBS Group decreased their price target on shares of Eastman Chemical from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, May 28th. Royal Bank of Canada upgraded shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective on the stock in a research note on Wednesday, April 9th. Finally, KeyCorp decreased their target price on 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 equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $98.54.

Eastman Chemical Trading Up 0.7%

Shares of EMN stock opened at $78.88 on Monday. The stock has a 50-day simple moving average of $78.86 and a 200 day simple moving average of $89.60. The stock has a market capitalization of $9.11 billion, a P/E ratio of 10.27, a P/E/G ratio of 1.22 and a beta of 1.25. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. On average, sell-side analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th will be given a $0.83 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.21%. Eastman Chemical's dividend payout ratio (DPR) is 42.24%.

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.

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