Eastman Chemical (NYSE:EMN) Shares Sold by Dynasty Wealth Management LLC

Dynasty Wealth Management LLC trimmed its holdings in Eastman Chemical (NYSE:EMN) by 5.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 3,740 shares of the basic materials company’s stock after selling 196 shares during the period. Dynasty Wealth Management LLC’s holdings in Eastman Chemical were worth $342,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Private Trust Co. NA raised its holdings in Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. increased its position in shares of Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 116 shares during the last quarter. RKL Wealth Management LLC raised its stake in shares of Eastman Chemical by 0.9% in the 3rd quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company’s stock valued at $1,520,000 after purchasing an additional 123 shares in the last quarter. Caprock Group LLC lifted its position in shares of Eastman Chemical by 4.2% during the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC grew its stake in Eastman Chemical by 1.4% in the fourth quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock worth $846,000 after purchasing an additional 132 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages have issued reports on EMN. KeyCorp upped their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada upped their price target on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Piper Sandler lifted their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group lowered their target price 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. Finally, StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Stock Up 0.9 %

Eastman Chemical stock opened at $97.81 on Friday. The company has a 50-day simple moving average of $94.80 and a 200-day simple moving average of $100.29. The firm has a market capitalization of $11.26 billion, a P/E ratio of 12.74, 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. Eastman Chemical has a one year low of $86.59 and a one year high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. As a group, equities analysts expect 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. Investors of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

Eastman Chemical Company 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.