Amalgamated Bank Purchases 168 Shares of Eastman Chemical (NYSE:EMN)

Amalgamated Bank lifted its holdings in Eastman Chemical (NYSE:EMN) by 0.4% during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 38,081 shares of the basic materials company’s stock after buying an additional 168 shares during the period. Amalgamated Bank’s holdings in Eastman Chemical were worth $3,731,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of EMN. Lcnb Corp boosted its stake in Eastman Chemical by 1.7% in the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after acquiring an additional 103 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after buying an additional 111 shares in the last quarter. Prosperity Consulting Group LLC boosted its holdings in Eastman Chemical by 4.8% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after buying an additional 123 shares during the period. IFG Advisory LLC grew its stake in Eastman Chemical by 0.9% in the 2nd quarter. IFG Advisory LLC now owns 15,438 shares of the basic materials company’s stock valued at $1,513,000 after buying an additional 137 shares in the last quarter. Finally, Empirical Finance LLC raised its holdings in Eastman Chemical by 3.3% during the 1st quarter. Empirical Finance LLC now owns 4,525 shares of the basic materials company’s stock valued at $453,000 after acquiring an additional 145 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Citigroup cut their price objective on shares of Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a report on Monday, July 29th. Mizuho raised their price target on shares of Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a report on Friday, July 26th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $100.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Seven equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $108.07.

Eastman Chemical Stock Performance

NYSE:EMN opened at $106.63 on Monday. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $108.81. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. The business has a 50 day moving average of $99.46 and a 200 day moving average of $98.53. The company has a market capitalization of $12.54 billion, a price-to-earnings ratio of 13.74, a PEG ratio of 0.75 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.99 EPS. On average, sell-side analysts predict that Eastman Chemical will post 7.66 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be issued a $0.81 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 3.04%. Eastman Chemical’s dividend payout ratio is currently 41.75%.

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.