Dimensional Fund Advisors LP Lowers Position in Eastman Chemical (NYSE:EMN)

Dimensional Fund Advisors LP lowered its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 5.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,030,618 shares of the basic materials company's stock after selling 112,196 shares during the period. Dimensional Fund Advisors LP owned about 1.71% of Eastman Chemical worth $182,400,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in EMN. Morgan Stanley grew its holdings in Eastman Chemical by 1.0% during the 3rd 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 last quarter. Invesco Ltd. increased its stake in Eastman Chemical by 37.4% in the third quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company's stock valued at $214,496,000 after purchasing an additional 760,974 shares in the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of 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 purchasing an additional 51,788 shares in the last quarter. Earnest Partners LLC grew its holdings in shares of Eastman Chemical by 19.9% in the 3rd quarter. Earnest Partners LLC now owns 1,807,691 shares of the basic materials company's stock valued at $138,686,000 after buying an additional 299,951 shares during the period. Finally, Northern Trust Corp raised its stake in Eastman Chemical by 1.8% during the 3rd quarter. Northern Trust Corp now owns 1,328,396 shares of the basic materials company's stock worth $101,915,000 after buying an additional 23,009 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Mark J. Costa sold 102,390 shares of the company's stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the completion of the transaction, the chief executive officer now owns 395,699 shares of the company's stock, valued at $39,878,545.22. The disclosure for this sale can be found here. Insiders have sold a total of 110,787 shares of company stock worth $11,105,175 over the last ninety days. 2.28% of the stock is currently owned by company insiders.

Eastman Chemical Stock Down 0.7 %

NYSE:EMN traded down $0.74 during trading hours on Thursday, reaching $100.07. The company had a trading volume of 645,189 shares, compared to its average volume of 1,055,281. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $102.71. The company has a quick ratio of 0.71, a current ratio of 1.39 and a debt-to-equity ratio of 0.77. The firm has a market cap of $11.77 billion, a price-to-earnings ratio of 12.99, a P/E/G ratio of 1.09 and a beta of 1.54. The business's 50-day simple moving average is $97.18 and its two-hundred day simple moving average is $88.92.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results 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 business had revenue of $2.31 billion during the quarter, compared to analyst estimates of $2.29 billion. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The firm's revenue was down 4.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.63 EPS. On average, equities analysts expect that Eastman Chemical will post 7.75 earnings per share for the current year.

Eastman Chemical Announces Dividend

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

Wall Street Analyst Weigh In

A number of research firms have recently commented on EMN. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Monday. Royal Bank of Canada upped their price objective on Eastman Chemical from $100.00 to $104.00 and gave the stock a "sector perform" rating in a research note on Tuesday, April 30th. UBS Group raised their price objective on Eastman Chemical from $91.00 to $93.00 and gave the company a "neutral" rating in a research report on Friday, February 2nd. Citigroup boosted their target price on Eastman Chemical from $95.00 to $114.00 and gave the stock a "buy" rating in a report on Wednesday, April 10th. Finally, Piper Sandler lifted their price objective on shares of Eastman Chemical from $90.00 to $105.00 and gave the stock a "neutral" rating in a research report on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $104.18.

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.