Eastman Chemical (NYSE:EMN) Holdings Boosted by Tidal Investments LLC

Tidal Investments LLC increased its position in Eastman Chemical (NYSE:EMN - Free Report) by 97.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,423 shares of the basic materials company's stock after buying an additional 4,162 shares during the quarter. Tidal Investments LLC's holdings in Eastman Chemical were worth $769,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in EMN. Raymond James Financial Inc. purchased a new position in shares of Eastman Chemical in the 4th quarter worth $150,537,000. Capital World Investors purchased a new position in shares of Eastman Chemical in the 4th quarter worth $137,848,000. Norges Bank purchased a new position in shares of Eastman Chemical in the 4th quarter worth $137,416,000. Wealthfront Advisers LLC raised its position in shares of Eastman Chemical by 3,136.8% in the 4th quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company's stock worth $67,213,000 after buying an additional 713,272 shares during the period. Finally, Capital Research Global Investors raised its position in shares of Eastman Chemical by 13.4% in the 4th quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company's stock worth $537,561,000 after buying an additional 697,388 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.8%

Shares of Eastman Chemical stock traded up $0.64 during trading hours on Thursday, hitting $81.61. 1,406,790 shares of the company's stock traded hands, compared to its average volume of 1,098,824. The stock has a 50 day simple moving average of $80.15 and a 200-day simple moving average of $90.84. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The company has a market cap of $9.42 billion, a PE ratio of 10.63, a PEG ratio of 1.22 and a beta of 1.29. Eastman Chemical has a twelve month low of $70.90 and a twelve month 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 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the company posted $1.61 earnings per share. The company's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.32 annualized dividend and a dividend yield of 4.07%. Eastman Chemical's payout ratio is 42.24%.

Analyst Ratings Changes

Several analysts recently issued reports on EMN shares. UBS Group lowered their price target on Eastman Chemical from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday. The Goldman Sachs Group lowered their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a report on Monday, April 28th. Citigroup upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price target for the company from $105.00 to $101.00 in a report on Friday, April 4th. KeyCorp lowered their price target on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Piper Sandler lowered their price target on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and an average price target of $98.54.

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.