Atria Wealth Solutions Inc. Acquires New Position in Eastman Chemical (NYSE:EMN)

Atria Wealth Solutions Inc. acquired a new stake in Eastman Chemical (NYSE:EMN) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 15,424 shares of the basic materials company’s stock, valued at approximately $1,409,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. Crews Bank & Trust bought a new position in Eastman Chemical in the fourth quarter worth approximately $27,000. Dunhill Financial LLC lifted 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 buying an additional 162 shares during the period. Stonebridge Financial Group LLC bought a new position in shares of Eastman Chemical during the 4th quarter worth $37,000. Versant Capital Management Inc increased its stake in shares of Eastman Chemical by 32.4% during the fourth quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company’s stock valued at $84,000 after buying an additional 224 shares during the period. Finally, CENTRAL TRUST Co increased its stake in shares of Eastman Chemical by 27.6% during the fourth quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock valued at $84,000 after buying an additional 200 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the topic of several recent research reports. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. KeyCorp increased their price objective on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. JPMorgan Chase & Co. lifted their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Mizuho increased their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Trading Down 1.9 %

Eastman Chemical stock opened at $98.63 on Monday. Eastman Chemical has a one year low of $85.28 and a one year high of $114.50. The stock has a market cap of $11.36 billion, a PE ratio of 12.84, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a 50-day moving average of $94.42 and a two-hundred day moving average of $100.29.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, research analysts anticipate 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. Stockholders 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 dividend yield of 3.37%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the sale, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.93% of the stock is 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.