Nemes Rush Group LLC Has $90,000 Position in Eastman Chemical (NYSE:EMN)

Nemes Rush Group LLC trimmed its stake in Eastman Chemical (NYSE:EMN) by 37.3% in the fourth quarter, HoldingsChannel reports. The firm owned 983 shares of the basic materials company’s stock after selling 586 shares during the period. Nemes Rush Group LLC’s holdings in Eastman Chemical were worth $90,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Crews Bank & Trust bought a new stake in Eastman Chemical in the 4th quarter valued at about $27,000. Picton Mahoney Asset Management grew its stake in Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 124 shares during the period. Assetmark Inc. increased its holdings in shares of Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical during the fourth quarter worth approximately $35,000. Finally, Dunhill Financial LLC lifted its holdings in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analysts Set New Price Targets

EMN has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Royal Bank of Canada lifted their price target on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 4th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, KeyCorp lifted their target price on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Stock Up 0.0 %

EMN stock opened at $88.12 on Wednesday. The stock has a market cap of $10.15 billion, a P/E ratio of 11.47, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The stock’s fifty day simple moving average is $95.43 and its two-hundred day simple moving average is $99.19. Eastman Chemical has a 1-year low of $85.84 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.77%. Eastman Chemical’s payout ratio is currently 43.23%.

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.