Eastman Chemical (NYSE:EMN) Shares Acquired by RKL Wealth Management LLC

RKL Wealth Management LLC grew its position in Eastman Chemical (NYSE:EMN) by 5.3% during the fourth quarter, Holdings Channel reports. The firm owned 14,300 shares of the basic materials company’s stock after acquiring an additional 724 shares during the period. RKL Wealth Management LLC’s holdings in Eastman Chemical were worth $1,306,000 as of its most recent filing with the SEC.

A number of other hedge funds have also modified their holdings of EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the fourth quarter valued at about $27,000. Assetmark Inc. increased its holdings in shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical in the fourth quarter valued at about $35,000. Dunhill Financial LLC increased its holdings in shares of Eastman Chemical by 94.7% in 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. Finally, Stonebridge Financial Group LLC acquired a new stake in Eastman Chemical during the fourth quarter worth about $37,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EMN. KeyCorp raised 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. Royal Bank of Canada raised 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. Piper Sandler raised their target price on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group dropped their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Citigroup lowered Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Stock Performance

NYSE EMN opened at $98.93 on Friday. The company has a market cap of $11.39 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The stock’s 50 day simple moving average is $95.25 and its 200-day simple moving average is $100.28. Eastman Chemical has a 1-year low of $86.70 and a 1-year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

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

Eastman Chemical Dividend Announcement

The company also recently announced 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. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

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.