Thurston Springer Miller Herd & Titak Inc. Has $55,000 Stock Holdings in Eastman Chemical (NYSE:EMN)

Thurston Springer Miller Herd & Titak Inc. trimmed its position in shares of Eastman Chemical (NYSE:EMN) by 38.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 488 shares of the basic materials company’s stock after selling 307 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Eastman Chemical were worth $55,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UMB Bank n.a. increased its stake in Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after acquiring an additional 96 shares during the period. Lcnb Corp increased its stake in Eastman Chemical by 1.7% during the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after acquiring an additional 103 shares during the period. Kingswood Wealth Advisors LLC increased its stake in Eastman Chemical by 2.8% during the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after acquiring an additional 111 shares during the period. Prosperity Consulting Group LLC grew its stake in shares of Eastman Chemical by 4.8% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock valued at $261,000 after purchasing an additional 123 shares during the period. Finally, IFG Advisory LLC grew its stake in shares of Eastman Chemical by 0.9% in the 2nd quarter. IFG Advisory LLC now owns 15,438 shares of the basic materials company’s stock valued at $1,513,000 after purchasing an additional 137 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

EMN stock opened at $110.32 on Wednesday. The business’s fifty day moving average is $103.31 and its 200-day moving average is $100.40. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. The company has a market cap of $12.98 billion, a P/E ratio of 14.22, a price-to-earnings-growth ratio of 0.83 and a beta of 1.44. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The company had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.99 EPS. Equities research analysts forecast that Eastman Chemical will post 7.67 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.94%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s dividend payout ratio (DPR) is currently 41.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Barclays upped their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. Mizuho upped their price objective on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company upped their price objective on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday. Piper Sandler restated a “neutral” rating and set a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $109.73.

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.