Vanguard Personalized Indexing Management LLC Acquires 1,574 Shares of Eastman Chemical (NYSE:EMN)

Vanguard Personalized Indexing Management LLC raised its holdings in Eastman Chemical (NYSE:EMN) by 12.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 13,913 shares of the basic materials company’s stock after purchasing an additional 1,574 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Eastman Chemical were worth $1,363,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of EMN. Gilbert & Cook Inc. increased its stake in shares of Eastman Chemical by 5.0% in the fourth quarter. Gilbert & Cook Inc. now owns 4,457 shares of the basic materials company’s stock valued at $400,000 after buying an additional 212 shares in the last quarter. Beacon Pointe Advisors LLC bought a new stake in Eastman Chemical during the 4th quarter worth about $265,000. Corient Private Wealth LLC increased its position in Eastman Chemical by 96.7% in the 4th quarter. Corient Private Wealth LLC now owns 99,210 shares of the basic materials company’s stock valued at $8,911,000 after acquiring an additional 48,762 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its stake in shares of Eastman Chemical by 2.7% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 59,320 shares of the basic materials company’s stock worth $5,328,000 after acquiring an additional 1,578 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in shares of Eastman Chemical by 3.5% during the fourth quarter. Intech Investment Management LLC now owns 44,374 shares of the basic materials company’s stock worth $3,986,000 after purchasing an additional 1,518 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

NYSE EMN opened at $106.63 on Monday. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. Eastman Chemical has a 52-week low of $68.89 and a 52-week high of $108.81. The business has a 50 day simple moving average of $99.46 and a 200 day simple moving average of $98.53. The stock has a market cap 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 released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.14. The firm had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The company’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same quarter last year, the business posted $1.99 EPS. Analysts anticipate that Eastman Chemical will post 7.66 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm 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 dividend on an annualized basis and a dividend yield of 3.04%. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Piper Sandler reissued a “neutral” rating and issued a $105.00 price target on shares of Eastman Chemical in a report on Tuesday, July 30th. Royal Bank of Canada reissued a “sector perform” rating and issued a $100.00 target price on shares of Eastman Chemical in a research note on Tuesday, July 30th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Barclays boosted their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a report on Monday, July 29th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $108.07.

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.