Eastman Chemical (NYSE:EMN) Shares Sold by SG Americas Securities LLC

SG Americas Securities LLC trimmed its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 90.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,215 shares of the basic materials company's stock after selling 31,069 shares during the quarter. SG Americas Securities LLC's holdings in Eastman Chemical were worth $289,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently made changes to their positions in EMN. Morgan Stanley grew its holdings in Eastman Chemical by 1.0% during the third quarter. Morgan Stanley now owns 3,978,856 shares of the basic materials company's stock worth $305,258,000 after acquiring an additional 39,860 shares during the period. Invesco Ltd. raised its holdings in shares of Eastman Chemical by 37.4% in the 3rd quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company's stock worth $214,496,000 after purchasing an additional 760,974 shares in the last quarter. Geode Capital Management LLC lifted its stake in Eastman Chemical by 0.7% during the first quarter. Geode Capital Management LLC now owns 2,463,133 shares of the basic materials company's stock valued at $207,261,000 after purchasing an additional 17,555 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in Eastman Chemical by 2.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,407,774 shares of the basic materials company's stock worth $184,724,000 after buying an additional 51,788 shares in the last quarter. Finally, Bank of America Corp DE grew its position in Eastman Chemical by 18.7% in the first quarter. Bank of America Corp DE now owns 1,885,179 shares of the basic materials company's stock worth $158,996,000 after buying an additional 296,610 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Stock Performance

EMN stock traded down $1.31 during mid-day trading on Wednesday, reaching $100.64. 968,197 shares of the stock traded hands, compared to its average volume of 1,115,426. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The business has a 50-day moving average of $90.39 and a two-hundred day moving average of $84.53. The firm has a market capitalization of $11.84 billion, a PE ratio of 13.41, a P/E/G ratio of 1.11 and a beta of 1.54. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating the consensus estimate of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.21 billion. During the same period in the prior year, the company earned $0.89 EPS. The business's quarterly revenue was down 7.0% compared to the same quarter last year. As a group, equities analysts predict that Eastman Chemical will post 7.7 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.22%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical's dividend payout ratio is 43.26%.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the business's stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. 2.28% of the stock is owned by insiders.

Analyst Ratings Changes

EMN has been the subject of several research reports. KeyCorp raised their price objective on Eastman Chemical from $101.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday. Redburn Atlantic initiated coverage on Eastman Chemical in a report on Thursday, February 15th. They set a "buy" rating and a $110.00 price objective on the stock. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Wednesday, December 13th. Stifel Nicolaus cut their price target on shares of Eastman Chemical from $102.00 to $101.00 and set a "buy" rating on the stock in a report on Monday, February 5th. Finally, UBS Group upped their price target on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $96.19.

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.