Eastman Chemical (NYSE:EMN) Shares Sold by AlphaMark Advisors LLC

AlphaMark Advisors LLC lessened its position in Eastman Chemical (NYSE:EMN) by 2.4% in the 4th quarter, Holdings Channel reports. The fund owned 12,183 shares of the basic materials company’s stock after selling 295 shares during the period. AlphaMark Advisors LLC’s holdings in Eastman Chemical were worth $1,113,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. National Bank of Canada FI lifted its position in Eastman Chemical by 492.9% in the third quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after purchasing an additional 177,207 shares during the period. KBC Group NV raised its stake in shares of Eastman Chemical by 21.8% during the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after buying an additional 19,809 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Eastman Chemical by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock valued at $16,588,000 after buying an additional 9,447 shares during the period. Pathway Financial Advisers LLC purchased a new stake in shares of Eastman Chemical in the third quarter valued at approximately $632,000. Finally, Dakota Wealth Management grew its holdings in Eastman Chemical by 14.6% during the fourth quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company’s stock worth $4,081,000 after acquiring an additional 5,700 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 1.1 %

Eastman Chemical stock opened at $92.10 on Friday. The stock has a 50-day moving average price of $95.70 and a 200 day moving average price of $100.17. Eastman Chemical has a 52 week low of $80.71 and a 52 week high of $114.50. The stock has a market cap of $10.68 billion, a PE ratio of 12.33, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.47 earnings per share. Equities research analysts predict that Eastman Chemical will post 7.6 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. Eastman Chemical’s dividend payout ratio is currently 44.44%.

Analysts Set New Price Targets

A number of research firms have commented on EMN. Mizuho raised 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. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their target price for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft decreased their price target on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $105.00 price objective on shares of Eastman Chemical in a research note on Friday, November 22nd. Six analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $112.92.

Insider Transactions at Eastman Chemical

In related news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the completion of the transaction, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,021 shares of company stock worth $1,895,948 over the last quarter. 1.93% of the stock is currently owned by insiders.

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.