Savant Capital LLC Has $1.10 Million Stake in Eastman Chemical (NYSE:EMN)

Savant Capital LLC lessened its holdings in Eastman Chemical (NYSE:EMN) by 2.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,078 shares of the basic materials company’s stock after selling 347 shares during the quarter. Savant Capital LLC’s holdings in Eastman Chemical were worth $1,103,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. State Street Corp boosted its holdings in Eastman Chemical by 1.4% during the third quarter. State Street Corp now owns 5,285,230 shares of the basic materials company’s stock valued at $595,820,000 after purchasing an additional 70,692 shares in the last quarter. Franklin Resources Inc. boosted its stake in Eastman Chemical by 5.7% in 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 buying an additional 282,458 shares in the last quarter. Geode Capital Management LLC raised its stake in Eastman Chemical by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company’s stock worth $310,628,000 after acquiring an additional 13,381 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in shares of Eastman Chemical by 3.2% during the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company’s stock valued at $306,093,000 after acquiring an additional 83,504 shares during the period. Finally, Thrivent Financial for Lutherans boosted its stake in shares of Eastman Chemical by 15.4% in the 3rd quarter. Thrivent Financial for Lutherans now owns 947,473 shares of the basic materials company’s stock valued at $106,070,000 after purchasing an additional 126,301 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. This trade represents a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is owned by insiders.

Eastman Chemical Trading Down 0.6 %

Shares of NYSE EMN opened at $100.99 on Friday. Eastman Chemical has a fifty-two week low of $83.38 and a fifty-two week high of $114.50. The firm has a market capitalization of $11.71 billion, a P/E ratio of 13.15, a P/E/G ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The company’s 50 day simple moving average is $94.26 and its 200 day simple moving average is $100.17.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. On average, analysts predict that Eastman Chemical will post 8.47 EPS for the current year.

Eastman Chemical Dividend Announcement

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 given a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. Eastman Chemical’s dividend payout ratio is 43.23%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. KeyCorp lifted their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. UBS Group decreased 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, JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.77.

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.