Johnson Financial Group Inc. Buys 226 Shares of Eastman Chemical (NYSE:EMN)

Johnson Financial Group Inc. raised its stake in shares of Eastman Chemical (NYSE:EMN) by 68.5% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 556 shares of the basic materials company’s stock after purchasing an additional 226 shares during the period. Johnson Financial Group Inc.’s holdings in Eastman Chemical were worth $55,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Susquehanna Fundamental Investments LLC bought a new stake in Eastman Chemical during the fourth quarter valued at about $3,334,000. Three Seasons Wealth LLC purchased a new position in shares of Eastman Chemical in the fourth quarter valued at about $464,000. Kovitz Investment Group Partners LLC lifted its position in shares of Eastman Chemical by 5.7% in the fourth quarter. Kovitz Investment Group Partners LLC now owns 7,539 shares of the basic materials company’s stock valued at $688,000 after acquiring an additional 404 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its position in shares of Eastman Chemical by 18.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 165,343 shares of the basic materials company’s stock valued at $15,099,000 after acquiring an additional 25,200 shares in the last quarter. Finally, Coppell Advisory Solutions LLC lifted its position in shares of Eastman Chemical by 10.3% in the fourth quarter. Coppell Advisory Solutions LLC now owns 11,565 shares of the basic materials company’s stock valued at $1,050,000 after acquiring an additional 1,079 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

NYSE:EMN opened at $75.69 on Tuesday. The firm has a market capitalization of $8.72 billion, a price-to-earnings ratio of 9.86, a PEG ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 1 year low of $70.90 and a 1 year high of $114.50. The business has a 50 day simple moving average of $86.87 and a 200-day simple moving average of $94.64. 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 (NYSE:EMN) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $1.61 EPS. The company’s revenue for the quarter was down .9% on a year-over-year basis. Equities analysts forecast that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.39%. Eastman Chemical’s payout ratio is 42.24%.

Analysts Set New Price Targets

EMN has been the topic of several research analyst reports. StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Monday. Piper Sandler lowered their price objective on Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating on the stock in a research report on Monday, April 7th. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Royal Bank of Canada upgraded Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a research report on Wednesday, April 9th. Finally, Citigroup upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. Six analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $102.64.

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.