Planned Solutions Inc. Invests $99,000 in Eastman Chemical (NYSE:EMN)

Planned Solutions Inc. purchased a new stake in shares of Eastman Chemical (NYSE:EMN) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 1,100 shares of the basic materials company’s stock, valued at approximately $99,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. First Command Advisory Services Inc. bought a new position in Eastman Chemical during the 3rd quarter valued at approximately $26,000. Pacifica Partners Inc. bought a new stake in Eastman Chemical during the 3rd quarter valued at about $28,000. Cornerstone Planning Group LLC bought a new position in shares of Eastman Chemical in the second quarter worth approximately $33,000. Sound Income Strategies LLC raised its holdings in Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 278 shares during the last quarter. Finally, Bruce G. Allen Investments LLC purchased a new stake in Eastman Chemical during the 4th quarter valued at $38,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of EMN opened at $99.58 on Thursday. The firm has a market capitalization of $11.71 billion, a PE ratio of 13.30, a price-to-earnings-growth ratio of 1.09 and a beta of 1.52. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70. The company’s fifty day moving average price is $87.69 and its 200-day moving average price is $83.09. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $100.37.

Eastman Chemical (NYSE:EMN) last released its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the previous year, the company posted $0.89 earnings per share. The company’s revenue was down 7.0% compared to the same quarter last year. On average, equities research analysts predict that Eastman Chemical will post 7.7 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.81 dividend. The ex-dividend date is Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.25%. Eastman Chemical’s payout ratio is currently 43.26%.

Insider Buying and Selling

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a filing with the SEC, which is available through this link. 1.93% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on EMN. Royal Bank of Canada decreased their target price on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 6th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Wednesday, December 13th. Citigroup lowered their target price on shares of Eastman Chemical from $96.00 to $95.00 and set a “buy” rating on the stock in a report on Tuesday, February 6th. Redburn Atlantic initiated coverage on Eastman Chemical in a report on Thursday, February 15th. They issued a “buy” rating and a $110.00 target price on the stock. Finally, Stifel Nicolaus lowered their price objective on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.75.

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.