Stifel Financial Corp Decreases Holdings in Eastman Chemical (NYSE:EMN)

Stifel Financial Corp lowered its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 16.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 85,666 shares of the basic materials company's stock after selling 16,809 shares during the quarter. Stifel Financial Corp owned 0.07% of Eastman Chemical worth $7,823,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $27,000. Picton Mahoney Asset Management boosted its position in shares of Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Assetmark Inc. grew its stake in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Eastman Chemical in the 4th quarter valued at about $35,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $37,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms recently weighed in on EMN. The Goldman Sachs Group lowered their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a report on Monday. Royal Bank of Canada upgraded Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price target for the company in a research report on Wednesday, April 9th. Wells Fargo & Company dropped their target price on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. KeyCorp reduced their price target on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a report on Monday. Finally, Piper Sandler cut their price objective on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Six investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus price target of $99.15.

Eastman Chemical Trading Down 0.9 %

Eastman Chemical stock traded down $0.72 during trading on Thursday, reaching $76.28. The company had a trading volume of 1,287,931 shares, compared to its average volume of 1,042,397. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The firm has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.93, a PEG ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50. The stock's 50 day moving average price is $85.51 and its two-hundred day moving average price is $94.16.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period in the prior year, the firm posted $1.61 EPS. The business's revenue for the quarter was down .9% on a year-over-year basis. As a group, equities analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.35%. Eastman Chemical's dividend payout ratio (DPR) is 42.24%.

About Eastman Chemical

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.