Janney Montgomery Scott LLC increased its position in shares of Eastman Chemical (NYSE:EMN) by 29.4% during the second quarter, HoldingsChannel.com reports. The firm owned 34,802 shares of the basic materials company’s stock after buying an additional 7,907 shares during the period. Janney Montgomery Scott LLC’s holdings in Eastman Chemical were worth $2,424,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMN. Rockefeller Capital Management L.P. increased its position in shares of Eastman Chemical by 329.3% during the first quarter. Rockefeller Capital Management L.P. now owns 571 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 438 shares during the period. Verus Capital Partners LLC bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $28,000. Global Retirement Partners LLC grew its position in Eastman Chemical by 277.5% in the second quarter. Global Retirement Partners LLC now owns 419 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 308 shares during the period. HHM Wealth Advisors LLC bought a new stake in Eastman Chemical in the first quarter valued at $30,000. Finally, Parallel Advisors LLC grew its position in Eastman Chemical by 38.5% in the first quarter. Parallel Advisors LLC now owns 834 shares of the basic materials company’s stock valued at $38,000 after acquiring an additional 232 shares during the period. Institutional investors and hedge funds own 79.70% of the company’s stock.

Shares of EMN opened at $74.63 on Friday. The company has a quick ratio of 0.95, a current ratio of 1.66 and a debt-to-equity ratio of 0.87. Eastman Chemical has a 12-month low of $34.44 and a 12-month high of $83.99. The firm has a market capitalization of $10.14 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 3.31 and a beta of 1.66. The stock’s fifty day simple moving average is $71.55 and its 200-day simple moving average is $64.82.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $2.03 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.72 by $0.31. Eastman Chemical had a return on equity of 16.76% and a net margin of 8.85%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.26 billion. During the same quarter in the prior year, the firm posted $1.77 earnings per share. The firm’s revenue for the quarter was down 5.8% compared to the same quarter last year. Analysts anticipate that Eastman Chemical will post 5.89 EPS for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 2nd. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 3.54%. Eastman Chemical’s dividend payout ratio (DPR) is presently 37.03%.

EMN has been the topic of a number of analyst reports. Stifel Nicolaus upped their price target on Eastman Chemical from $74.00 to $87.00 in a research report on Tuesday, July 21st. Deutsche Bank upped their price target on Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. upped their price target on Eastman Chemical from $68.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. UBS Group upped their price target on Eastman Chemical from $54.00 to $68.00 and gave the company a “buy” rating in a research report on Wednesday, May 6th. Finally, Barclays decreased their target price on Eastman Chemical from $81.00 to $70.00 and set an “equal weight” rating on the stock in a report on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have issued a buy rating to the company. Eastman Chemical has a consensus rating of “Buy” and a consensus target price of $72.28.

Eastman Chemical Company Profile

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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