17,361 Shares in Eastman Chemical Company $EMN Bought by GSA Capital Partners LLP

GSA Capital Partners LLP bought a new stake in Eastman Chemical Company (NYSE:EMN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,361 shares of the basic materials company’s stock, valued at approximately $1,095,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Rothschild Investment LLC grew 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 valued at $36,000 after purchasing an additional 229 shares during the last quarter. M&G PLC acquired a new stake in Eastman Chemical in the third quarter valued at approximately $12,194,000. State of New Jersey Common Pension Fund D increased its holdings in shares of Eastman Chemical by 6.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 35,968 shares of the basic materials company’s stock worth $2,268,000 after buying an additional 2,307 shares in the last quarter. HighTower Advisors LLC lifted its stake in shares of Eastman Chemical by 42.7% in the 3rd quarter. HighTower Advisors LLC now owns 47,788 shares of the basic materials company’s stock valued at $3,013,000 after acquiring an additional 14,294 shares during the last quarter. Finally, Cherokee Insurance Co boosted its holdings in shares of Eastman Chemical by 10.7% during the 3rd quarter. Cherokee Insurance Co now owns 72,300 shares of the basic materials company’s stock valued at $4,559,000 after acquiring an additional 7,000 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on EMN shares. Evercore set a $75.00 target price on Eastman Chemical in a report on Wednesday. Citigroup boosted their price target on Eastman Chemical from $75.00 to $78.00 and gave the stock a “buy” rating in a report on Tuesday, February 3rd. Deutsche Bank Aktiengesellschaft raised their price objective 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 upped their price target on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a “buy” rating in a research report on Monday, February 2nd. Finally, UBS Group cut their price target on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $79.21.

Eastman Chemical Trading Down 2.8%

NYSE:EMN opened at $78.00 on Friday. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $101.81. The company has a current ratio of 1.37, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The stock has a market capitalization of $8.90 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.77 and a beta of 1.23. The firm has a fifty day simple moving average of $69.70 and a two-hundred day simple moving average of $65.43.

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

Eastman Chemical Announces Dividend

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 given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend is Friday, March 13th. Eastman Chemical’s dividend payout ratio (DPR) is presently 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.