Janney Montgomery Scott LLC Grows Holdings in Eastman Chemical Company (NYSE:EMN)

Janney Montgomery Scott LLC boosted its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 58.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,868 shares of the basic materials company's stock after purchasing an additional 11,787 shares during the quarter. Janney Montgomery Scott LLC's holdings in Eastman Chemical were worth $2,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management increased its position in shares of Eastman Chemical by 62.3% in the fourth 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 last quarter. Assetmark Inc. grew its stake in Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after buying an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Eastman Chemical in the 4th quarter worth $35,000. Headlands Technologies LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter valued at $43,000. Finally, Orion Capital Management LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $47,000. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EMN has been the topic of a number of research reports. Royal Bank Of Canada upgraded 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. Citigroup upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price objective for the company from $105.00 to $101.00 in a research report on Friday, April 4th. UBS Group dropped their target price on Eastman Chemical from $111.00 to $107.00 and set a "buy" rating for the company in a research report on Wednesday, May 28th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Finally, The Goldman Sachs Group cut their price objective 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. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $98.54.

Eastman Chemical Stock Performance

Shares of EMN stock traded down $0.54 during trading hours on Wednesday, reaching $75.92. The company had a trading volume of 1,274,434 shares, compared to its average volume of 1,189,968. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.79 and a current ratio of 1.72. The business has a fifty day moving average price of $78.60 and a 200-day moving average price of $87.46. Eastman Chemical Company has a one year low of $70.90 and a one year high of $114.50. The firm has a market cap of $8.77 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.75 and a beta of 1.25.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping 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 return on equity of 16.59% and a net margin of 9.85%. Eastman Chemical's revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.61 earnings per share. Sell-side analysts predict that Eastman Chemical Company 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. Stockholders of record on Friday, June 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.37%. The ex-dividend date of this dividend is Friday, June 13th. Eastman Chemical's dividend payout ratio is presently 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.