Aristides Capital LLC Makes New $255,000 Investment in Eastman Chemical (NYSE:EMN)

Aristides Capital LLC acquired a new stake in Eastman Chemical (NYSE:EMN) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,599 shares of the basic materials company’s stock, valued at approximately $255,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lcnb Corp grew its stake in shares of Eastman Chemical by 1.7% in the 1st 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 lifted its holdings in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock valued at $394,000 after acquiring an additional 111 shares during the last quarter. Prosperity Consulting Group LLC grew its position in Eastman Chemical by 4.8% in the second quarter. Prosperity Consulting Group LLC now owns 2,662 shares of the basic materials company’s stock worth $261,000 after acquiring an additional 123 shares during the period. IFG Advisory LLC increased its stake in Eastman Chemical by 0.9% during the second quarter. IFG Advisory LLC now owns 15,438 shares of the basic materials company’s stock worth $1,513,000 after acquiring an additional 137 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. raised its position in Eastman Chemical by 30.9% in the second 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 during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 price objective on shares of Eastman Chemical in a research report on Tuesday, July 30th. Barclays boosted their price target on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note on Monday, July 29th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Citigroup decreased their price target on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a research note on Thursday, June 27th. Finally, Mizuho raised their price target on Eastman Chemical from $102.00 to $107.00 and gave the stock a “neutral” rating in a research report on Friday, July 26th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $108.07.

Eastman Chemical Stock Down 0.4 %

Shares of NYSE EMN opened at $111.95 on Tuesday. The business has a 50-day moving average of $100.95 and a two-hundred day moving average of $99.37. The company has a market capitalization of $13.17 billion, a price-to-earnings ratio of 14.43, a price-to-earnings-growth ratio of 0.82 and a beta of 1.44. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, topping the consensus estimate of $2.01 by $0.14. The firm had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The firm’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.99 earnings per share. On average, analysts forecast that Eastman Chemical will post 7.66 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

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