Todd Asset Management LLC Sells 90,140 Shares of Eastman Chemical (NYSE:EMN)

Todd Asset Management LLC lessened its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 32.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 187,839 shares of the basic materials company's stock after selling 90,140 shares during the quarter. Todd Asset Management LLC owned approximately 0.16% of Eastman Chemical worth $16,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of EMN. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth approximately $26,000. First Command Advisory Services Inc. purchased a new position in shares of Eastman Chemical during the third quarter worth about $26,000. Sound Income Strategies LLC grew its holdings in shares of Eastman Chemical by 213.8% during the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company's stock worth $37,000 after purchasing an additional 278 shares during the last quarter. Bruce G. Allen Investments LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth about $38,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Eastman Chemical by 426.6% in the 4th quarter. WASHINGTON TRUST Co now owns 495 shares of the basic materials company's stock valued at $44,000 after purchasing an additional 401 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the company's stock in a transaction dated Wednesday, March 6th. The shares were 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 can be accessed through the SEC website. Insiders own 1.93% of the company's stock.

Eastman Chemical Price Performance

EMN traded up $1.58 on Friday, hitting $97.50. 859,678 shares of the company were exchanged, compared to its average volume of 928,148. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.70 and a current ratio of 1.39. The firm has a market capitalization of $11.47 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.04 and a beta of 1.54. The business's fifty day moving average is $95.01 and its 200 day moving average is $87.26.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, beating analysts' consensus estimates of $1.41 by $0.20. The firm had revenue of $2.31 billion for the quarter, compared to analysts' expectations of $2.29 billion. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The firm's revenue was down 4.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.63 EPS. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 17th will be given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.32%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical's payout ratio is 41.75%.

Wall Street Analysts Forecast Growth

EMN has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Eastman Chemical from $102.00 to $101.00 and set a "buy" rating for the company in a research note on Monday, February 5th. Jefferies Financial Group upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating and increased their price target for the stock from $102.00 to $125.00 in a research note on Monday, April 29th. Citigroup increased their target price on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a "buy" rating in a research note on Wednesday, April 10th. Bank of America dropped their price target on Eastman Chemical from $113.00 to $112.00 and set a "buy" rating on the stock in a research report on Monday, April 29th. Finally, Piper Sandler increased their price objective on Eastman Chemical from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday. Eight equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $103.12.

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.