Edmp Inc. grew its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 184.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 23,908 shares of the basic materials company's stock after purchasing an additional 15,504 shares during the period. Eastman Chemical comprises approximately 1.8% of Edmp Inc.'s holdings, making the stock its 20th largest holding. 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 the company. Econ Financial Services Corp increased its stake in shares of Eastman Chemical by 37.9% during the first quarter. Econ Financial Services Corp now owns 23,035 shares of the basic materials company's stock valued at $2,030,000 after buying an additional 6,330 shares during the period. Moran Wealth Management LLC increased its stake in shares of Eastman Chemical by 72.2% during the first quarter. Moran Wealth Management LLC now owns 93,618 shares of the basic materials company's stock valued at $8,249,000 after buying an additional 39,249 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Eastman Chemical by 5.0% during the first quarter. Asset Management One Co. Ltd. now owns 47,898 shares of the basic materials company's stock valued at $4,220,000 after buying an additional 2,279 shares during the period. Oppenheimer Asset Management Inc. increased its stake in shares of Eastman Chemical by 6.9% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,639 shares of the basic materials company's stock valued at $1,730,000 after buying an additional 1,268 shares during the period. Finally, Altrius Capital Management Inc increased its stake in shares of Eastman Chemical by 6.5% during the first quarter. Altrius Capital Management Inc now owns 49,264 shares of the basic materials company's stock valued at $4,341,000 after buying an additional 3,020 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.
Eastman Chemical Stock Up 0.1%
NYSE EMN traded up $0.08 during trading on Friday, hitting $76.23. The company's stock had a trading volume of 4,120,690 shares, compared to its average volume of 1,207,691. 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 company has a market cap of $8.80 billion, a PE ratio of 9.70, a P/E/G ratio of 1.78 and a beta of 1.25. The business's 50 day simple moving average is $78.56 and its 200-day simple moving average is $86.97. Eastman Chemical Company has a fifty-two week low of $70.90 and a fifty-two week high of $114.50.
Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a return on equity of 16.59% and a net margin of 9.85%. The company's quarterly revenue was down .9% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. On average, equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.
Eastman Chemical Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors 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 of this dividend is Friday, June 13th. Eastman Chemical's dividend payout ratio (DPR) is 42.24%.
Analyst Upgrades and Downgrades
Several equities analysts have recently commented on EMN shares. Citigroup upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price target for the company from $105.00 to $101.00 in a research note on Friday, April 4th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Wall Street Zen lowered Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Piper Sandler cut their target price on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, Royal Bank Of Canada upgraded Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 target price on the stock in a research note on Wednesday, April 9th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, Eastman Chemical has an average rating of "Moderate Buy" and a consensus target price of $98.54.
View Our Latest Stock Report on Eastman Chemical
Eastman Chemical Profile
(
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.
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