Eastman Chemical (NYSE:EMN) Stock Position Increased by Metis Global Partners LLC

Metis Global Partners LLC boosted its position in shares of Eastman Chemical (NYSE:EMN) by 3.8% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,878 shares of the basic materials company’s stock after buying an additional 143 shares during the quarter. Metis Global Partners LLC’s holdings in Eastman Chemical were worth $354,000 at the end of the most recent quarter.

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

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on EMN. Piper Sandler lifted 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. Royal Bank of Canada boosted their price objective on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. Finally, Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $118.00 to $104.00 in a research note on Wednesday, December 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Price Performance

EMN opened at $97.82 on Thursday. The stock has a fifty day moving average price of $95.02 and a 200 day moving average price of $100.32. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 1 year low of $86.70 and a 1 year high of $114.50. The stock has a market cap of $11.27 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.22 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) 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%. Analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.39%. Eastman Chemical’s dividend payout ratio is currently 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.