Modera Wealth Management LLC Takes Position in Eastman Chemical (NYSE:EMN)

Modera Wealth Management LLC bought a new stake in shares of Eastman Chemical (NYSE:EMNFree Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 1,978 shares of the basic materials company’s stock, valued at approximately $221,000.

Other large investors have also recently made changes to their positions in the company. Cultivar Capital Inc. purchased a new stake in Eastman Chemical in the 2nd quarter worth about $29,000. Wolff Wiese Magana LLC increased its holdings 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 worth $32,000 after acquiring an additional 200 shares during the last quarter. EntryPoint Capital LLC purchased a new stake in Eastman Chemical in the 1st quarter worth about $38,000. Rothschild Investment LLC purchased a new stake in Eastman Chemical in the 2nd quarter worth about $38,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical in the 3rd quarter worth about $38,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on EMN. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Barclays lifted their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their price objective for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Wells Fargo & Company lifted their target price on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a report on Tuesday, October 15th. Finally, Mizuho lifted their target price on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Eight equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.20.

Read Our Latest Analysis on EMN

Eastman Chemical Stock Performance

Shares of EMN opened at $104.84 on Wednesday. The company has a market cap of $12.33 billion, a PE ratio of 13.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. The stock has a 50-day moving average price of $105.54 and a 200-day moving average price of $100.89. Eastman Chemical has a 12-month low of $72.87 and a 12-month high of $114.50.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.09%. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

Eastman Chemical Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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