Altrius Capital Management Inc Raises Holdings in Eastman Chemical (NYSE:EMN)

Altrius Capital Management Inc lifted its position in Eastman Chemical (NYSE:EMN) by 0.8% during the 4th quarter, HoldingsChannel reports. The firm owned 46,244 shares of the basic materials company’s stock after acquiring an additional 378 shares during the quarter. Altrius Capital Management Inc’s holdings in Eastman Chemical were worth $4,223,000 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. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $27,000. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical during the fourth quarter valued at approximately $35,000. Dunhill Financial LLC lifted its stake in shares of Eastman Chemical by 94.7% in the 3rd 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 last quarter. Stonebridge Financial Group LLC purchased a new position in shares of Eastman Chemical in the 4th quarter worth approximately $37,000. Finally, Proficio Capital Partners LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at approximately $75,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Down 1.3 %

Eastman Chemical stock opened at $96.92 on Friday. The business’s 50-day simple moving average is $94.80 and its two-hundred day simple moving average is $100.29. 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 company has a market cap of $11.16 billion, a PE ratio of 12.62, a PEG ratio of 1.22 and a beta of 1.44. Eastman Chemical has a fifty-two week low of $85.28 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 EPS for the quarter, beating 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%. Equities analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.43%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their price objective for the stock 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. Mizuho increased their price objective 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. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Finally, Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target 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.