Beverly Hills Private Wealth LLC Sells 442 Shares of Eastman Chemical (NYSE:EMN)

Beverly Hills Private Wealth LLC lowered its position in Eastman Chemical (NYSE:EMN) by 9.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,338 shares of the basic materials company’s stock after selling 442 shares during the quarter. Beverly Hills Private Wealth LLC’s holdings in Eastman Chemical were worth $390,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its stake in shares of Eastman Chemical by 2.3% during the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,261 shares of the basic materials company’s stock valued at $1,934,000 after buying an additional 386 shares during the period. Yousif Capital Management LLC raised its holdings in shares of Eastman Chemical by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock valued at $2,087,000 after purchasing an additional 150 shares in the last quarter. Cibc World Market Inc. raised its holdings in shares of Eastman Chemical by 10.4% in the 1st quarter. Cibc World Market Inc. now owns 6,098 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 572 shares in the last quarter. Blair William & Co. IL lifted its position in shares of Eastman Chemical by 2.5% in the 1st quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock worth $491,000 after purchasing an additional 105 shares during the period. Finally, Sei Investments Co. boosted its stake in shares of Eastman Chemical by 16.4% during the first quarter. Sei Investments Co. now owns 200,656 shares of the basic materials company’s stock valued at $22,546,000 after purchasing an additional 28,338 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.7 %

NYSE:EMN opened at $97.32 on Tuesday. 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 $91.64 and its 200-day moving average price is $85.19. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The firm has a market capitalization of $11.44 billion, a P/E ratio of 12.99, a PEG ratio of 1.08 and a beta of 1.54.

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

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were issued a $0.81 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.33%. Eastman Chemical’s payout ratio is 43.26%.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of analyst reports. Redburn Atlantic started coverage on Eastman Chemical in a report on Thursday, February 15th. They set a “buy” rating and a $110.00 target price for the company. Royal Bank of Canada dropped their price objective on Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating on the stock in a research report on Tuesday, February 6th. Wells Fargo & Company increased their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. UBS Group lifted their price target on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Finally, KeyCorp increased their price objective on Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $97.13.

Insiders Place Their Bets

In related news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction dated Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 2.28% of the company’s stock.

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.