Capital Investment Advisors LLC Invests $223,000 in Eastman Chemical (NYSE:EMN)

Capital Investment Advisors LLC acquired a new stake in Eastman Chemical (NYSE:EMN) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 1,988 shares of the basic materials company’s stock, valued at approximately $223,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EMN. Wolff Wiese Magana LLC raised its position in Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Cultivar Capital Inc. purchased a new stake in shares of Eastman Chemical during the second quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical in the first quarter valued at approximately $34,000. EntryPoint Capital LLC purchased a new position in Eastman Chemical in the first quarter worth approximately $38,000. Finally, Rothschild Investment LLC acquired a new position in Eastman Chemical during the 2nd quarter worth approximately $38,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EMN. Piper Sandler restated a “neutral” rating and issued a $105.00 price objective on shares of Eastman Chemical in a report on Tuesday, July 30th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Citigroup lowered their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barclays raised their target price on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Wells Fargo & Company upped their price target on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average price target of $110.20.

Eastman Chemical Stock Down 0.9 %

Shares of NYSE:EMN opened at $107.83 on Tuesday. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The stock has a market cap of $12.69 billion, a P/E ratio of 13.90, a P/E/G ratio of 0.83 and a beta of 1.44. The firm has a fifty day moving average price of $104.43 and a 200 day moving average price of $100.63.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.01 by $0.14. The firm had revenue of $2.36 billion during 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 revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.99 EPS. Sell-side analysts predict that Eastman Chemical will post 7.67 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were paid a $0.81 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.24 annualized dividend and a yield of 3.00%. Eastman Chemical’s dividend payout ratio is currently 41.75%.

Eastman Chemical Company 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.