Cooper Haims Advisors LLC Decreases Stock Position in Eastman Chemical (NYSE:EMN)

Cooper Haims Advisors LLC reduced its position in Eastman Chemical (NYSE:EMN) by 6.5% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 2,658 shares of the basic materials company’s stock after selling 185 shares during the period. Cooper Haims Advisors LLC’s holdings in Eastman Chemical were worth $243,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Trust Co. NA boosted its position in shares of Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 103 shares during the last quarter. Blue Trust Inc. grew its stake in shares of Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after buying an additional 116 shares in the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. Caprock Group LLC raised its position in shares of Eastman Chemical by 4.2% during the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock valued at $295,000 after buying an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC lifted its holdings in shares of Eastman Chemical by 1.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock valued at $846,000 after acquiring an additional 132 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Down 2.7 %

Shares of NYSE EMN opened at $73.52 on Tuesday. The stock has a 50 day moving average price of $94.37 and a 200 day moving average price of $98.42. The firm has a market capitalization of $8.47 billion, a price-to-earnings ratio of 9.57, a PEG ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 52-week low of $70.91 and a 52-week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Sell-side analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 4.52%. Eastman Chemical’s dividend payout ratio is presently 43.23%.

Wall Street Analyst Weigh In

EMN has been the subject of several analyst reports. UBS Group lowered their price objective on Eastman Chemical from $123.00 to $115.00 and set a “buy” rating for the company in a research note on Monday. Royal Bank of Canada lifted their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. KeyCorp lifted their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Finally, Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price objective on the stock in a research report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average target price of $111.67.

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.