Atria Investments Inc Has $2.04 Million Holdings in Eastman Chemical (NYSE:EMN)

Atria Investments Inc decreased its holdings in Eastman Chemical (NYSE:EMN) by 8.2% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 22,321 shares of the basic materials company’s stock after selling 1,994 shares during the period. Atria Investments Inc’s holdings in Eastman Chemical were worth $2,038,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the 4th quarter valued at $27,000. Assetmark Inc. raised its stake in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after buying an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at $35,000. Dunhill Financial LLC raised its stake 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 valued at $37,000 after buying an additional 162 shares in the last quarter. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on EMN. Mizuho increased their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. JPMorgan Chase & Co. upped their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada upped their target price on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. Finally, Barclays lowered their target price on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Stock Up 2.1 %

Shares of NYSE:EMN opened at $98.93 on Monday. Eastman Chemical has a 12 month low of $86.70 and a 12 month high of $114.50. The company’s 50-day moving average price is $95.39 and its two-hundred day moving average price is $100.32. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market cap of $11.39 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.22 and a beta of 1.43.

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

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.36%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

About Eastman Chemical

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.