Tradewinds LLC. Invests $240,000 in Eastman Chemical (NYSE:EMN)

Tradewinds LLC. purchased a new stake in Eastman Chemical (NYSE:EMN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,387 shares of the basic materials company’s stock, valued at approximately $240,000.

Several other large investors have also recently bought and sold shares of the stock. James J. Burns & Company LLC acquired a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $741,000. Goelzer Investment Management Inc. bought a new stake in Eastman Chemical in the 4th quarter valued at about $3,319,000. National Bank of Canada FI grew its position 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 worth $23,863,000 after purchasing an additional 177,207 shares in the last quarter. Dakota Wealth Management increased its holdings in shares of Eastman Chemical by 14.6% during the fourth quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company’s stock worth $4,081,000 after purchasing an additional 5,700 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after buying an additional 282,458 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Price Performance

Shares of EMN opened at $88.12 on Wednesday. The business has a 50-day simple moving average of $95.43 and a two-hundred day simple moving average of $99.19. Eastman Chemical has a 12-month low of $85.84 and a 12-month high of $114.50. The stock has a market cap of $10.15 billion, a PE ratio of 11.47, a PEG ratio of 1.22 and a beta of 1.43. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating 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 anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

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

Analysts Set New Price Targets

A number of brokerages recently issued reports on EMN. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Barclays decreased their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. UBS Group cut their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, January 31st. JPMorgan Chase & Co. raised their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Company 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.