Truist Financial Corp Has $111.54 Million Stock Position in Eastman Chemical Company (NYSE:EMN)

Truist Financial Corp lifted its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 9.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,265,857 shares of the basic materials company's stock after purchasing an additional 107,750 shares during the period. Truist Financial Corp owned 1.10% of Eastman Chemical worth $111,535,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in EMN. Eukles Asset Management boosted its holdings in Eastman Chemical by 4.7% during the first quarter. Eukles Asset Management now owns 29,922 shares of the basic materials company's stock valued at $2,636,000 after purchasing an additional 1,344 shares in the last quarter. Argyle Capital Management LLC boosted its holdings in Eastman Chemical by 24.8% during the first quarter. Argyle Capital Management LLC now owns 3,465 shares of the basic materials company's stock valued at $305,000 after purchasing an additional 689 shares in the last quarter. OneDigital Investment Advisors LLC boosted its holdings in shares of Eastman Chemical by 36.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company's stock worth $267,000 after acquiring an additional 816 shares in the last quarter. Goelzer Investment Management Inc. boosted its holdings in shares of Eastman Chemical by 0.5% in the 1st quarter. Goelzer Investment Management Inc. now owns 36,505 shares of the basic materials company's stock worth $3,216,000 after acquiring an additional 164 shares in the last quarter. Finally, Checchi Capital Advisers LLC boosted its holdings in shares of Eastman Chemical by 6.0% in the 1st quarter. Checchi Capital Advisers LLC now owns 3,064 shares of the basic materials company's stock worth $270,000 after acquiring an additional 174 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

Shares of NYSE EMN traded down $1.45 during mid-day trading on Monday, hitting $78.13. 196,513 shares of the stock traded hands, compared to its average volume of 1,232,476. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.72 and a quick ratio of 0.79. Eastman Chemical Company has a twelve month low of $70.90 and a twelve month high of $114.50. The company has a market cap of $9.02 billion, a PE ratio of 10.04, a price-to-earnings-growth ratio of 1.91 and a beta of 1.22. The firm has a 50 day simple moving average of $78.58 and a two-hundred day simple moving average of $86.33.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its 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. The firm had revenue of $2.29 billion for 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 business's quarterly revenue was down .9% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 EPS. As a group, equities research analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.25%. The ex-dividend date is Friday, June 13th. Eastman Chemical's dividend payout ratio is 42.24%.

Wall Street Analyst Weigh In

EMN has been the subject of several research analyst reports. Barclays dropped their price objective on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. The Goldman Sachs Group dropped 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 report on Monday, April 28th. Wall Street Zen cut shares of Eastman Chemical from a "buy" rating to a "hold" rating 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. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 price target (down previously from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to data from MarketBeat, the company 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.