Delphi Management Inc. MA Raises Holdings in Eastman Chemical (NYSE:EMN)

Delphi Management Inc. MA boosted its stake in shares of Eastman Chemical (NYSE:EMN) by 44.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 5,696 shares of the basic materials company’s stock after acquiring an additional 1,750 shares during the quarter. Delphi Management Inc. MA’s holdings in Eastman Chemical were worth $520,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of EMN. Raymond James Financial Inc. purchased a new stake in Eastman Chemical during the 4th quarter valued at about $150,537,000. Wealthfront Advisers LLC raised its position in Eastman Chemical by 3,136.8% during the 4th quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company’s stock valued at $67,213,000 after purchasing an additional 713,272 shares during the last quarter. PNC Financial Services Group Inc. raised its position in Eastman Chemical by 57.2% during the 3rd quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company’s stock valued at $104,755,000 after purchasing an additional 340,562 shares during the last quarter. Franklin Resources Inc. raised its position in 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 purchasing an additional 282,458 shares during the last quarter. Finally, National Bank of Canada FI raised its position in Eastman Chemical by 492.9% during the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after purchasing an additional 177,207 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.2 %

EMN stock opened at $91.23 on Tuesday. Eastman Chemical has a twelve month low of $86.70 and a twelve month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market cap of $10.51 billion, a PE ratio of 11.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The business has a 50 day moving average of $95.74 and a 200 day moving average of $100.00.

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

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on EMN. KeyCorp upped their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report 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. JPMorgan Chase & Co. upped their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price target for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Finally, Piper Sandler upped their price target on Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price 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.