Edmp Inc. increased its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 184.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,908 shares of the basic materials company's stock after purchasing an additional 15,504 shares during the period. Eastman Chemical makes up 1.8% of Edmp Inc.'s holdings, making the stock its 20th biggest position. Edmp Inc.'s holdings in Eastman Chemical were worth $2,107,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in EMN. Picton Mahoney Asset Management grew its position in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after purchasing an additional 124 shares during the period. Assetmark Inc. lifted its holdings in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after buying an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth about $35,000. Headlands Technologies LLC acquired a new stake in Eastman Chemical during the fourth quarter worth about $43,000. Finally, Orion Capital Management LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $47,000. Hedge funds and other institutional investors own 83.65% of the company's stock.
Eastman Chemical Price Performance
EMN stock traded up $0.36 during trading on Thursday, hitting $76.23. The stock had a trading volume of 1,482,406 shares, compared to its average volume of 1,192,279. Eastman Chemical Company has a twelve month low of $70.90 and a twelve month high of $114.50. The company's 50-day moving average price is $78.58 and its two-hundred day moving average price is $87.38. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.72 and a quick ratio of 0.79. The stock has a market capitalization of $8.80 billion, a P/E ratio of 9.70, a PEG ratio of 1.78 and a beta of 1.25.
Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results 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. Eastman Chemical had a return on equity of 16.59% and a net margin of 9.85%. The business had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.61 earnings per share. The business's quarterly revenue was down .9% compared to the same quarter last year. As a group, research 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 will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.36%. The ex-dividend date is Friday, June 13th. Eastman Chemical's payout ratio is 42.24%.
Analysts Set New Price Targets
Several equities research analysts have commented on EMN shares. Citigroup upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. The Goldman Sachs Group decreased their target price 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. Royal Bank Of Canada upgraded shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price target on the stock in a research report on Wednesday, April 9th. Mizuho raised shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a research note on Thursday, April 3rd. Finally, KeyCorp dropped their target price on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $98.54.
View Our Latest Stock Report on Eastman Chemical
About Eastman Chemical
(
Free Report)
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.
Further Reading
Before you consider Eastman Chemical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eastman Chemical wasn't on the list.
While Eastman Chemical currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
