Tyche Wealth Partners LLC Acquires 1,204 Shares of Eastman Chemical (NYSE:EMN)

Tyche Wealth Partners LLC raised its holdings in shares of Eastman Chemical (NYSE:EMN) by 26.0% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 5,836 shares of the basic materials company’s stock after acquiring an additional 1,204 shares during the period. Tyche Wealth Partners LLC’s holdings in Eastman Chemical were worth $533,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. State Street Corp raised its position in shares of Eastman Chemical by 1.4% during the 3rd quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock valued at $595,820,000 after acquiring an additional 70,692 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Eastman Chemical by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after acquiring an additional 282,458 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Eastman Chemical by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock valued at $310,628,000 after buying an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Eastman Chemical by 3.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock valued at $306,093,000 after buying an additional 83,504 shares in the last quarter. Finally, Thrivent Financial for Lutherans increased its position in shares of Eastman Chemical by 15.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock valued at $106,070,000 after buying an additional 126,301 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.6 %

Eastman Chemical stock opened at $101.21 on Friday. The firm has a 50-day moving average of $94.53 and a 200-day moving average of $100.09. Eastman Chemical has a one year low of $81.00 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The company has a market cap of $11.73 billion, a price-to-earnings ratio of 13.18, a P/E/G ratio of 0.73 and a beta of 1.44.

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 16.40%. On average, equities analysts expect that Eastman Chemical will post 8.46 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, December 16th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a yield of 3.28%. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

Analysts Set New Price Targets

EMN has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Barclays lowered their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday. Royal Bank of Canada upped their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday. Finally, KeyCorp upped their price objective on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $113.54.

Insiders Place Their Bets

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