Bleakley Financial Group LLC Acquires Shares of 1,941 Eastman Chemical (NYSE:EMN)

Bleakley Financial Group LLC bought a new position in Eastman Chemical (NYSE:EMN) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 1,941 shares of the basic materials company’s stock, valued at approximately $217,000.

Other large investors have also recently made changes to their positions in the company. Cultivar Capital Inc. bought a new stake in Eastman Chemical in the second quarter worth about $29,000. Wolff Wiese Magana LLC boosted its holdings in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares during the period. EntryPoint Capital LLC bought a new position in Eastman Chemical in the 1st quarter valued at $38,000. Rothschild Investment LLC purchased a new stake in Eastman Chemical in the second quarter worth $38,000. Finally, Friedenthal Financial bought a new stake in shares of Eastman Chemical during the second quarter worth $49,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft raised their price target on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. Royal Bank of Canada boosted their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a report on Friday, October 11th. Citigroup decreased their target price 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 increased their price target 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 objective on shares of Eastman Chemical from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $110.20.

Eastman Chemical Trading Down 0.1 %

NYSE:EMN opened at $106.98 on Thursday. The stock has a market capitalization of $12.59 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 0.83 and a beta of 1.44. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $114.50. 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 firm has a 50 day moving average of $104.89 and a 200 day moving average of $100.73.

Eastman Chemical (NYSE:EMN) last issued 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. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The firm had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the prior year, the business posted $1.99 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. As a group, sell-side analysts anticipate that Eastman Chemical will post 7.67 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Shareholders of record on Monday, September 16th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s dividend payout ratio is presently 41.75%.

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.