Rowlandmiller & PARTNERS.ADV Makes New Investment in Eastman Chemical (NYSE:EMN)

Rowlandmiller & PARTNERS.ADV acquired a new position in shares of Eastman Chemical (NYSE:EMN) in the third quarter, according to its most recent disclosure with the SEC. The firm acquired 895 shares of the basic materials company’s stock, valued at approximately $100,000.

Other hedge funds also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new stake in Eastman Chemical during the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC lifted its holdings in shares of Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after buying an additional 200 shares during the period. EntryPoint Capital LLC acquired a new stake in shares of Eastman Chemical in the 1st quarter valued at approximately $38,000. Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical in the 2nd quarter valued at approximately $38,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the 3rd quarter valued at approximately $38,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $106.72 on Friday. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $114.50. The stock has a market capitalization of $12.56 billion, a P/E ratio of 13.75, a PEG ratio of 0.83 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76. The business’s fifty day moving average price is $105.06 and its 200 day moving average price is $100.77.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the firm posted $1.99 earnings per share. The company’s revenue was up 1.7% compared to the same quarter last year. As a group, research analysts anticipate that Eastman Chemical will post 7.67 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s dividend payout ratio (DPR) is 41.75%.

Analysts Set New Price Targets

EMN has been the subject of several research analyst reports. Royal Bank of Canada raised their price objective on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company raised their price objective on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Barclays raised their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Eight equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.20.

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.