Eastman Chemical (NYSE:EMN) Shares Sold by Weaver C. Barksdale & Associates Inc.

Weaver C. Barksdale & Associates Inc. reduced its stake in shares of Eastman Chemical (NYSE:EMN) by 2.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,948 shares of the basic materials company’s stock after selling 345 shares during the quarter. Weaver C. Barksdale & Associates Inc.’s holdings in Eastman Chemical were worth $1,275,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of EMN. Quest Partners LLC purchased a new stake in shares of Eastman Chemical in the 3rd quarter valued at about $154,000. Pathstone Holdings LLC lifted its stake in Eastman Chemical by 2.2% in the third quarter. Pathstone Holdings LLC now owns 16,483 shares of the basic materials company’s stock valued at $1,846,000 after buying an additional 348 shares during the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Eastman Chemical by 11.3% in the third quarter. Daiwa Securities Group Inc. now owns 14,384 shares of the basic materials company’s stock valued at $1,610,000 after acquiring an additional 1,461 shares during the period. Independent Advisor Alliance purchased a new position in shares of Eastman Chemical during the third quarter worth approximately $231,000. Finally, D.A. Davidson & CO. increased its holdings in shares of Eastman Chemical by 3.3% in the 3rd quarter. D.A. Davidson & CO. now owns 36,108 shares of the basic materials company’s stock valued at $4,042,000 after acquiring an additional 1,160 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

NYSE:EMN opened at $89.33 on Wednesday. The firm’s fifty day simple moving average is $95.89 and its 200-day simple moving average is $99.58. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock has a market cap of $10.29 billion, a PE ratio of 11.63, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a fifty-two week low of $86.70 and a fifty-two week high of $114.50.

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

Eastman Chemical Announces Dividend

The company 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 $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

Analyst Ratings Changes

A number of analysts recently weighed in on EMN shares. UBS Group decreased their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Piper Sandler increased their target price 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. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their price target for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Finally, Mizuho boosted their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

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.