Eastman Chemical (NYSE:EMN) Shares Bought by Global Retirement Partners LLC

Global Retirement Partners LLC grew its holdings in shares of Eastman Chemical (NYSE:EMN) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,268 shares of the basic materials company’s stock after purchasing an additional 132 shares during the period. Global Retirement Partners LLC’s holdings in Eastman Chemical were worth $846,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $27,000. Dunhill Financial LLC increased its holdings in shares of 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 during the period. Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $37,000. Versant Capital Management Inc increased its holdings in shares of Eastman Chemical by 32.4% during the fourth quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 224 shares during the period. Finally, CENTRAL TRUST Co increased its holdings in shares of Eastman Chemical by 27.6% during the fourth quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 200 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of research analyst reports. KeyCorp lifted their target price on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft lowered their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Royal Bank of Canada lifted their target price on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. Finally, Barclays lowered their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Trading Down 1.9 %

NYSE:EMN opened at $98.63 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 1-year low of $85.28 and a 1-year high of $114.50. The firm has a market capitalization of $11.36 billion, a price-to-earnings ratio of 12.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The stock has a fifty day simple moving average of $94.42 and a 200 day simple moving average of $100.24.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 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 forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.37%. Eastman Chemical’s payout ratio is presently 43.23%.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares in the company, valued at approximately $466,013.52. This trade represents a 50.30 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now owns 47,287 shares of the company’s stock, valued at $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.93% of the company’s stock.

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.