Three Seasons Wealth LLC Makes New Investment in Eastman Chemical (NYSE:EMN)

Three Seasons Wealth LLC bought a new stake in shares of Eastman Chemical (NYSE:EMN - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 5,031 shares of the basic materials company's stock, valued at approximately $464,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Barclays PLC raised its position in shares of Eastman Chemical by 3.5% in the 3rd quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock worth $35,268,000 after acquiring an additional 10,695 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Eastman Chemical in the 3rd quarter worth $656,000. Franklin Resources Inc. raised its position in shares of Eastman Chemical by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock worth $593,233,000 after acquiring an additional 282,458 shares in the last quarter. IMS Capital Management bought a new position in shares of Eastman Chemical in the 3rd quarter worth $280,000. Finally, Principal Financial Group Inc. raised its position in shares of Eastman Chemical by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock worth $16,588,000 after acquiring an additional 9,447 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EMN. StockNews.com downgraded Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday. Wells Fargo & Company dropped their target price on Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Piper Sandler dropped their target price on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. Finally, UBS Group dropped their target price on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating on the stock in a research note on Monday, April 7th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, Eastman Chemical currently has an average rating of "Moderate Buy" and a consensus price target of $99.15.

Eastman Chemical Trading Up 0.1 %

Shares of NYSE EMN traded up $0.04 during trading on Wednesday, reaching $76.28. The stock had a trading volume of 535,039 shares, compared to its average volume of 1,036,709. The company has a market cap of $8.79 billion, a P/E ratio of 9.93, a PEG ratio of 1.22 and a beta of 1.38. The business's 50-day moving average price is $86.38 and its 200-day moving average price is $94.51. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51.

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

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 4.35%. Eastman Chemical's dividend payout ratio (DPR) is presently 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.