Smartleaf Asset Management LLC Sells 119 Shares of Eastman Chemical (NYSE:EMN)

Smartleaf Asset Management LLC cut its holdings in Eastman Chemical (NYSE:EMN) by 2.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,054 shares of the basic materials company’s stock after selling 119 shares during the period. Smartleaf Asset Management LLC’s holdings in Eastman Chemical were worth $368,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EMN. Metis Global Partners LLC grew its position in Eastman Chemical by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 3,878 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 143 shares during the last quarter. West Michigan Advisors LLC grew its holdings in shares of Eastman Chemical by 6.6% in the fourth quarter. West Michigan Advisors LLC now owns 4,200 shares of the basic materials company’s stock worth $387,000 after purchasing an additional 259 shares during the last quarter. US Bancorp DE increased its stake in shares of Eastman Chemical by 12.7% in the fourth quarter. US Bancorp DE now owns 57,746 shares of the basic materials company’s stock worth $5,273,000 after buying an additional 6,498 shares during the period. SVB Wealth LLC bought a new stake in Eastman Chemical during the 4th quarter valued at $431,000. Finally, Private Trust Co. NA boosted its position in Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after buying an additional 103 shares during the period. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Barclays cut their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada raised their price target on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Stock Down 1.4 %

NYSE:EMN opened at $93.13 on Wednesday. The company has a market capitalization of $10.73 billion, a PE ratio of 12.13, 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 current ratio of 1.51 and a quick ratio of 0.78. Eastman Chemical has a 1-year low of $86.70 and a 1-year high of $114.50. The firm’s 50-day moving average price is $94.99 and its 200-day moving average price is $100.35.

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, equities analysts predict that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

About Eastman Chemical

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.