Blackhawk Capital Partners LLC. Has $274,000 Position in Eastman Chemical (NYSE:EMN)

Blackhawk Capital Partners LLC. grew its holdings in Eastman Chemical (NYSE:EMN) by 16.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,001 shares of the basic materials company’s stock after buying an additional 421 shares during the quarter. Blackhawk Capital Partners LLC.’s holdings in Eastman Chemical were worth $274,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crews Bank & Trust bought a new stake in Eastman Chemical in the fourth quarter valued at about $27,000. Dunhill Financial LLC boosted its holdings in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $37,000. Versant Capital Management Inc raised its holdings in shares of Eastman Chemical by 32.4% in the 4th quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company’s stock worth $84,000 after buying an additional 224 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its position in shares of Eastman Chemical by 27.6% during the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock worth $84,000 after buying an additional 200 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on EMN. Deutsche Bank Aktiengesellschaft lowered their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Mizuho increased their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Piper Sandler upped their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research note on Thursday, February 13th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Stock Down 0.6 %

NYSE:EMN opened at $98.15 on Tuesday. The company has a market cap of $11.30 billion, a price-to-earnings ratio of 12.78, a P/E/G ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock’s fifty day moving average price is $94.45 and its two-hundred day moving average price is $100.31. Eastman Chemical has a 52-week low of $85.28 and a 52-week high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.38%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is 43.23%.

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.