Eastman Chemical Company $EMN Shares Acquired by Calydon Capital

Calydon Capital boosted its stake in Eastman Chemical Company (NYSE:EMN) by 17.3% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 76,649 shares of the basic materials company’s stock after purchasing an additional 11,320 shares during the quarter. Calydon Capital owned about 0.07% of Eastman Chemical worth $4,833,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. MUFG Securities EMEA plc acquired a new position in shares of Eastman Chemical in the 2nd quarter valued at $25,000. Loomis Sayles & Co. L P purchased a new stake in shares of Eastman Chemical during the 2nd quarter valued at $33,000. Rothschild Investment LLC increased its holdings in shares of Eastman Chemical by 65.6% during the 3rd quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock worth $36,000 after buying an additional 229 shares during the last quarter. Financial Consulate Inc. purchased a new position in shares of Eastman Chemical in the 3rd quarter worth $42,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Eastman Chemical in the 3rd quarter worth $44,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $69.23 on Friday. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $92.19. The business has a 50-day moving average of $72.71 and a 200-day moving average of $66.37. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63. The company has a market capitalization of $7.90 billion, a price-to-earnings ratio of 16.93, a PEG ratio of 1.53 and a beta of 1.20.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. On average, equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th. Eastman Chemical’s dividend payout ratio (DPR) is presently 82.15%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on EMN. JPMorgan Chase & Co. boosted their price target on Eastman Chemical from $60.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday, February 2nd. Bank of America raised their price objective on Eastman Chemical from $74.00 to $79.00 and gave the stock a “buy” rating in a report on Monday, February 2nd. Weiss Ratings raised Eastman Chemical from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft boosted their target price on Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Finally, Royal Bank Of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of Eastman Chemical in a report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.64.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.