Eastman Chemical Company $EMN Shares Acquired by Kwmg LLC

Kwmg LLC increased its stake in shares of Eastman Chemical Company (NYSE:EMN) by 13.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 73,197 shares of the basic materials company’s stock after buying an additional 8,865 shares during the quarter. Kwmg LLC owned about 0.06% of Eastman Chemical worth $4,672,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in Eastman Chemical during the 2nd quarter worth approximately $121,060,000. State Street Corp increased its holdings in shares of Eastman Chemical by 24.3% in the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock valued at $363,314,000 after purchasing an additional 1,112,391 shares during the period. Allspring Global Investments Holdings LLC raised its stake in shares of Eastman Chemical by 97.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company’s stock worth $119,672,000 after purchasing an additional 916,023 shares during the last quarter. Qube Research & Technologies Ltd raised its stake in shares of Eastman Chemical by 1,456.4% during the second quarter. Qube Research & Technologies Ltd now owns 708,290 shares of the basic materials company’s stock worth $52,881,000 after purchasing an additional 662,783 shares during the last quarter. Finally, DAVENPORT & Co LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $39,545,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on EMN. Evercore set a $75.00 price objective on shares of Eastman Chemical in a research report on Wednesday, February 18th. Royal Bank Of Canada restated a “sector perform” rating and issued a $79.00 target price on shares of Eastman Chemical in a research note on Wednesday, February 4th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Bank of America boosted their price target on shares of Eastman Chemical from $74.00 to $79.00 and gave the stock a “buy” rating in a research note on Monday, February 2nd. Finally, Citigroup raised their price objective on shares of Eastman Chemical from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday, March 12th. 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, Eastman Chemical presently has a consensus rating of “Hold” and a consensus target price of $79.64.

Eastman Chemical Stock Down 0.6%

Eastman Chemical stock opened at $75.85 on Thursday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.37. The stock’s fifty day moving average is $73.45 and its two-hundred day moving average is $66.60. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $88.73. The firm has a market capitalization of $8.65 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 1.69 and a beta of 1.16.

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

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Shareholders 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 4.4%. The ex-dividend date is Friday, March 13th. Eastman Chemical’s dividend payout ratio is 82.15%.

Eastman Chemical Profile

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.