Eastman Chemical (NYSE:EMN) Shares Sold by Brookstone Capital Management

Brookstone Capital Management decreased its position in Eastman Chemical (NYSE:EMN) by 27.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 108,431 shares of the basic materials company’s stock after selling 40,766 shares during the quarter. Brookstone Capital Management owned 0.09% of Eastman Chemical worth $10,867,000 as of its most recent SEC filing.

Other institutional investors have also made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in Eastman Chemical by 8.5% in the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock valued at $147,000 after acquiring an additional 128 shares during the period. Tucker Asset Management LLC boosted its position in Eastman Chemical by 19.5% during the 3rd quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 142 shares during the period. Atria Wealth Solutions Inc. grew its stake in Eastman Chemical by 4.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock worth $310,000 after buying an additional 151 shares during the last quarter. Parkside Financial Bank & Trust increased its position in Eastman Chemical by 26.2% in the third quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock worth $62,000 after buying an additional 169 shares during the period. Finally, Allworth Financial LP increased its position in Eastman Chemical by 16.7% in the fourth quarter. Allworth Financial LP now owns 1,434 shares of the basic materials company’s stock worth $129,000 after buying an additional 205 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. Jefferies Financial Group upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating and upped their price target for the stock from $102.00 to $125.00 in a research report on Monday, April 29th. Bank of America decreased their target price on shares of Eastman Chemical from $113.00 to $112.00 and set a “buy” rating for the company in a research report on Monday, April 29th. Barclays raised their target price on Eastman Chemical from $85.00 to $103.00 and gave the company an “equal weight” rating in a research report on Monday, May 6th. StockNews.com downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Thursday, June 20th. Finally, Piper Sandler boosted their price objective on Eastman Chemical from $90.00 to $105.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 30th. Seven investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $107.31.

Eastman Chemical Trading Down 1.0 %

NYSE EMN opened at $97.18 on Friday. The firm’s 50 day moving average price is $99.27 and its two-hundred day moving average price is $93.12. The stock has a market cap of $11.43 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 1.07 and a beta of 1.51. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $105.98. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. Eastman Chemical’s revenue was down 4.2% compared to the same quarter last year. During the same quarter last year, the firm posted $1.63 earnings per share. Equities analysts anticipate that Eastman Chemical will post 7.69 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 17th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical’s dividend payout ratio (DPR) is 41.75%.

Insider Buying and Selling

In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of the company’s stock in a transaction that occurred on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total value of $10,318,864.20. Following the transaction, the chief executive officer now owns 395,699 shares in the company, valued at approximately $39,878,545.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of Eastman Chemical stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares of the company’s stock, valued at approximately $39,878,545.22. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Adrian James Holt sold 3,662 shares of the company’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $101.26, for a total transaction of $370,814.12. The disclosure for this sale can be found here. Over the last three months, insiders sold 108,027 shares of company stock worth $10,885,638. 1.93% of the stock is owned by company insiders.

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.