Aldebaran Financial Inc. Acquires 1,658 Shares of Eastman Chemical (NYSE:EMN)

Aldebaran Financial Inc. increased its holdings in Eastman Chemical (NYSE:EMN) by 27.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 7,608 shares of the basic materials company’s stock after buying an additional 1,658 shares during the period. Eastman Chemical accounts for 1.0% of Aldebaran Financial Inc.’s investment portfolio, making the stock its 24th biggest position. Aldebaran Financial Inc.’s holdings in Eastman Chemical were worth $745,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EMN. Lcnb Corp increased its position in shares of Eastman Chemical by 1.7% during the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock valued at $629,000 after buying an additional 103 shares during the period. Kingswood Wealth Advisors LLC increased its holdings in 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 worth $394,000 after acquiring an additional 111 shares during the period. Prosperity Consulting Group LLC lifted its stake 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 purchasing an additional 123 shares in the last quarter. IFG Advisory LLC boosted its holdings 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 purchasing an additional 137 shares during the period. Finally, Benjamin F. Edwards & Company Inc. grew its position in shares of Eastman Chemical by 30.9% during the 2nd quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company’s stock valued at $60,000 after purchasing an additional 144 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

EMN stock opened at $111.95 on Tuesday. The stock has a market capitalization of $13.17 billion, a price-to-earnings ratio of 14.43, a PEG ratio of 0.82 and a beta of 1.44. The firm’s 50-day moving average price is $100.95 and its two-hundred day moving average price is $99.37. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 12-month low of $68.89 and a 12-month high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. The firm had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company earned $1.99 EPS. As a group, equities analysts predict that Eastman Chemical will post 7.66 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be given a $0.81 dividend. The ex-dividend date is Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 2.89%. Eastman Chemical’s dividend payout ratio is 41.75%.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of recent analyst reports. Piper Sandler reiterated a “neutral” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Deutsche Bank Aktiengesellschaft lifted their price target on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a research report on Monday, July 29th. Royal Bank of Canada restated a “sector perform” rating and issued a $100.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Citigroup cut their price target on shares of Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research note on Thursday, June 27th. Finally, Mizuho raised their price objective on shares of Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $108.07.

About Eastman Chemical

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.