Investors Research Corp Sells 150 Shares of Eastman Chemical (NYSE:EMN)

Investors Research Corp trimmed its holdings in shares of Eastman Chemical (NYSE:EMN) by 1.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,053 shares of the basic materials company’s stock after selling 150 shares during the quarter. Investors Research Corp’s holdings in Eastman Chemical were worth $735,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the business. Independent Advisor Alliance increased its position in Eastman Chemical by 22.4% during the fourth quarter. Independent Advisor Alliance now owns 2,527 shares of the basic materials company’s stock worth $231,000 after acquiring an additional 462 shares during the period. Daiwa Securities Group Inc. increased its holdings in Eastman Chemical by 7.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 15,417 shares of the basic materials company’s stock valued at $1,408,000 after buying an additional 1,033 shares during the period. Moran Wealth Management LLC bought a new position in Eastman Chemical in the 4th quarter valued at about $4,965,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in Eastman Chemical by 6.1% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 66,424 shares of the basic materials company’s stock valued at $6,066,000 after buying an additional 3,837 shares during the period. Finally, Sowell Financial Services LLC increased its holdings in Eastman Chemical by 7.7% in the 4th quarter. Sowell Financial Services LLC now owns 12,562 shares of the basic materials company’s stock valued at $1,147,000 after buying an additional 902 shares during the period. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the topic of several recent analyst reports. Piper Sandler raised their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Royal Bank of Canada raised their target price on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a report on Tuesday, February 4th. KeyCorp raised their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price target for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Six 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 company currently has an average rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Stock Up 2.1 %

NYSE:EMN opened at $98.93 on Monday. The firm’s 50 day simple moving average is $95.39 and its 200 day simple moving average is $100.32. 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 one year low of $86.70 and a one year high of $114.50. The company has a market cap of $11.39 billion, a PE ratio of 12.88, a P/E/G ratio of 1.22 and a beta of 1.43.

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%. On average, research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

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