Chesley Taft & Associates LLC Sells 200 Shares of Eastman Chemical (NYSE:EMN)

Chesley Taft & Associates LLC lessened its holdings in Eastman Chemical (NYSE:EMN) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,140 shares of the basic materials company’s stock after selling 200 shares during the period. Chesley Taft & Associates LLC’s holdings in Eastman Chemical were worth $463,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the business. Kwmg LLC grew its holdings in shares of Eastman Chemical by 2.4% during the 3rd quarter. Kwmg LLC now owns 49,591 shares of the basic materials company’s stock valued at $5,552,000 after purchasing an additional 1,155 shares during the last quarter. GAMMA Investing LLC increased its holdings in shares of Eastman Chemical by 19.7% during the third quarter. GAMMA Investing LLC now owns 4,021 shares of the basic materials company’s stock worth $450,000 after buying an additional 662 shares in the last quarter. Czech National Bank lifted its stake in shares of Eastman Chemical by 6.2% in the 3rd quarter. Czech National Bank now owns 23,813 shares of the basic materials company’s stock valued at $2,666,000 after acquiring an additional 1,394 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in shares of Eastman Chemical by 26.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 29,900 shares of the basic materials company’s stock valued at $3,347,000 after acquiring an additional 6,300 shares in the last quarter. Finally, Massmutual Trust Co. FSB ADV grew its position in Eastman Chemical by 52.6% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company’s stock worth $60,000 after acquiring an additional 185 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.9 %

Shares of EMN stock opened at $108.27 on Wednesday. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. The stock has a 50 day simple moving average of $102.13 and a two-hundred day simple moving average of $100.03. The company has a market cap of $12.74 billion, a P/E ratio of 13.95, a PEG ratio of 0.82 and a beta of 1.44.

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

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were paid a $0.81 dividend. The ex-dividend date was Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 2.99%. Eastman Chemical’s dividend payout ratio is presently 41.75%.

Wall Street Analyst Weigh In

EMN has been the subject of several research reports. Piper Sandler reiterated a “neutral” rating and issued a $105.00 target price on shares of Eastman Chemical in a research report on Tuesday, July 30th. Barclays raised their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a report on Monday, July 29th. Royal Bank of Canada reissued a “sector perform” rating and set a $100.00 target price on shares of Eastman Chemical in a report on Tuesday, July 30th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target 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. Seven investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average 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.