Eastman Chemical (NYSE:EMN) Holdings Raised by American Century Companies Inc.

American Century Companies Inc. boosted its stake in Eastman Chemical (NYSE:EMN) by 1.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 108,112 shares of the basic materials company’s stock after buying an additional 1,651 shares during the period. American Century Companies Inc. owned 0.09% of Eastman Chemical worth $10,592,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Lcnb Corp boosted its holdings in shares of Eastman Chemical by 1.7% in 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 in the last quarter. Kingswood Wealth Advisors LLC increased its position in shares of Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after purchasing an additional 111 shares during the period. IFG Advisory LLC raised 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 worth $1,513,000 after buying an additional 137 shares in the last quarter. Empirical Finance LLC raised its stake in shares of Eastman Chemical by 3.3% in the 1st quarter. Empirical Finance LLC now owns 4,525 shares of the basic materials company’s stock worth $453,000 after buying an additional 145 shares in the last quarter. Finally, Montag A & Associates Inc. lifted its holdings in shares of Eastman Chemical by 1.6% in the first quarter. Montag A & Associates Inc. now owns 10,562 shares of the basic materials company’s stock valued at $1,067,000 after buying an additional 162 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the topic of several research reports. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Piper Sandler reissued a “neutral” rating and set a $105.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Barclays increased their price objective on Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 target price on shares of Eastman Chemical in a report on Tuesday, July 30th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $108.07.

Eastman Chemical Trading Down 1.5 %

Eastman Chemical stock opened at $106.63 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $108.81. The company’s fifty day simple moving average is $99.46 and its 200-day simple moving average is $98.53. The stock has a market cap of $12.54 billion, a P/E ratio of 13.74, a P/E/G ratio of 0.75 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.14. The company had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business’s revenue was up 1.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.99 EPS. As a group, sell-side analysts forecast that Eastman Chemical will post 7.66 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Shareholders of record on Monday, September 16th will be given a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.04%. The ex-dividend date of this dividend is Monday, September 16th. Eastman Chemical’s dividend payout ratio is 41.75%.

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.