Arete Wealth Advisors LLC Raises Position in Eastman Chemical (NYSE:EMN)

Arete Wealth Advisors LLC lifted its stake in shares of Eastman Chemical (NYSE:EMN) by 13.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,078 shares of the basic materials company’s stock after buying an additional 483 shares during the period. Arete Wealth Advisors LLC’s holdings in Eastman Chemical were worth $371,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. Crews Bank & Trust purchased a new position in Eastman Chemical during the 4th quarter worth $27,000. Picton Mahoney Asset Management boosted its holdings in Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. grew its position in Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical in the 4th quarter valued at about $35,000. Finally, Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Barclays decreased their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research report on Monday, February 3rd. Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a report on Thursday. JPMorgan Chase & Co. raised their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Citigroup raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the stock from $105.00 to $101.00 in a research report on Friday. Four analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $112.83.

Eastman Chemical Trading Down 5.6 %

NYSE:EMN opened at $75.48 on Monday. Eastman Chemical has a 1 year low of $73.78 and a 1 year high of $114.50. The stock’s fifty day moving average price is $94.76 and its two-hundred day moving average price is $98.67. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The company has a market cap of $8.69 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last issued 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 return on equity of 16.27% and a net margin of 9.65%. As a group, analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.40%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is presently 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.