Fort Washington Investment Advisors Inc. OH Has $352,000 Holdings in Eastman Chemical (NYSE:EMN)

Fort Washington Investment Advisors Inc. OH cut its stake in Eastman Chemical (NYSE:EMN) by 11.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,852 shares of the basic materials company’s stock after selling 477 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in Eastman Chemical were worth $352,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Assenagon Asset Management S.A. boosted its holdings in Eastman Chemical by 1,104.3% in the 3rd quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company’s stock valued at $104,560,000 after purchasing an additional 856,432 shares during the period. Truist Financial Corp increased its stake in shares of Eastman Chemical by 201.5% in the 2nd quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company’s stock valued at $90,572,000 after purchasing an additional 617,889 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in Eastman Chemical by 57.2% during the third quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company’s stock worth $104,755,000 after acquiring an additional 340,562 shares in the last quarter. Franklin Resources Inc. lifted its stake in Eastman Chemical by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after purchasing an additional 282,458 shares during the last quarter. Finally, National Bank of Canada FI boosted its holdings in shares of Eastman Chemical by 492.9% during the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after acquiring an additional 177,207 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms recently commented on EMN. Royal Bank of Canada reiterated a “sector perform” rating and set a $105.00 target price on shares of Eastman Chemical in a research report on Friday, November 22nd. Deutsche Bank Aktiengesellschaft decreased their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Mizuho raised their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and cut their target price for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Finally, Piper Sandler reduced their price objective on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a research report on Tuesday, January 7th. Six 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, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus price target of $112.92.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $93.13 on Friday. The company has a 50-day moving average price of $95.89 and a two-hundred day moving average price of $100.15. Eastman Chemical has a twelve month low of $80.71 and a twelve month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The firm has a market capitalization of $10.79 billion, a PE ratio of 12.47, a P/E/G ratio of 0.69 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. The company had revenue of $2.46 billion for the quarter, compared to analyst estimates of $2.38 billion. During the same period in the previous year, the company posted $1.47 EPS. The firm’s revenue for the quarter was up 8.7% compared to the same quarter last year. Equities analysts forecast that Eastman Chemical will post 7.6 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.56%. The ex-dividend date was Monday, December 16th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. Eastman Chemical’s dividend payout ratio (DPR) is 44.44%.

Insider Activity

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the sale, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. This represents a 19.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. This represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,021 shares of company stock worth $1,895,948. 1.93% of the stock is currently owned by insiders.

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.