Eastman Chemical (NYSE:EMN) Shares Bought by Jones Financial Companies Lllp

Jones Financial Companies Lllp grew its holdings in shares of Eastman Chemical (NYSE:EMN) by 168.6% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 3,693 shares of the basic materials company’s stock after purchasing an additional 2,318 shares during the period. Jones Financial Companies Lllp’s holdings in Eastman Chemical were worth $337,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $27,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $35,000. Dunhill Financial LLC grew its holdings in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the period. Stonebridge Financial Group LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $37,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $75,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Down 2.6 %

Shares of Eastman Chemical stock opened at $94.55 on Wednesday. Eastman Chemical has a fifty-two week low of $86.70 and a fifty-two week high of $114.50. The firm has a market cap of $10.89 billion, a PE ratio of 12.31, a P/E/G ratio of 1.22 and a beta of 1.43. The business’s fifty day moving average is $95.52 and its two-hundred day moving average is $100.31. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.51%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of research reports. Barclays lowered their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. UBS Group lowered their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Mizuho increased their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Finally, KeyCorp increased their target price on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $114.08.

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.