Dalton Greiner Hartman Maher & Co. Sells 2,143 Shares of Eastman Chemical (NYSE:EMN)

Dalton Greiner Hartman Maher & Co. decreased its position in shares of Eastman Chemical (NYSE:EMN) by 2.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 79,267 shares of the basic materials company’s stock after selling 2,143 shares during the period. Dalton Greiner Hartman Maher & Co.’s holdings in Eastman Chemical were worth $6,283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the business. FTB Advisors Inc. increased its position in Eastman Chemical by 49.5% during the fourth quarter. FTB Advisors Inc. now owns 598 shares of the basic materials company’s stock valued at $47,000 after acquiring an additional 198 shares during the last quarter. BLB&B Advisors LLC increased its position in Eastman Chemical by 1.9% during the third quarter. BLB&B Advisors LLC now owns 10,560 shares of the basic materials company’s stock valued at $780,000 after acquiring an additional 200 shares during the last quarter. Cadence Capital Management LLC increased its position in Eastman Chemical by 2.8% during the third quarter. Cadence Capital Management LLC now owns 8,021 shares of the basic materials company’s stock valued at $592,000 after acquiring an additional 220 shares during the last quarter. Breiter Capital Management Inc. increased its position in Eastman Chemical by 10.6% during the second quarter. Breiter Capital Management Inc. now owns 2,383 shares of the basic materials company’s stock valued at $238,000 after acquiring an additional 228 shares during the last quarter. Finally, Gyroscope Capital Management Group LLC increased its position in Eastman Chemical by 2.6% during the third quarter. Gyroscope Capital Management Group LLC now owns 10,488 shares of the basic materials company’s stock valued at $743,000 after acquiring an additional 264 shares during the last quarter. Institutional investors and hedge funds own 79.80% of the company’s stock.

NYSE EMN opened at $76.20 on Thursday. The company’s 50-day moving average price is $77.59 and its 200-day moving average price is $74.53. The company has a current ratio of 1.65, a quick ratio of 0.84 and a debt-to-equity ratio of 0.91. The stock has a market cap of $10.41 billion, a PE ratio of 9.29, a PEG ratio of 1.38 and a beta of 1.38. Eastman Chemical has a 12 month low of $61.22 and a 12 month high of $86.18.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, October 24th. The basic materials company reported $1.94 EPS for the quarter, missing the Zacks’ consensus estimate of $1.98 by ($0.04). The company had revenue of $2.33 billion during the quarter, compared to the consensus estimate of $2.36 billion. Eastman Chemical had a return on equity of 16.58% and a net margin of 8.12%. The company’s revenue for the quarter was down 8.7% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.34 earnings per share. As a group, sell-side analysts forecast that Eastman Chemical will post 7.06 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, January 3rd. Stockholders of record on Monday, December 16th were issued a $0.66 dividend. The ex-dividend date of this dividend was Friday, December 13th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.62. This represents a $2.64 dividend on an annualized basis and a dividend yield of 3.46%. Eastman Chemical’s dividend payout ratio is presently 32.20%.

A number of research firms have weighed in on EMN. SunTrust Banks boosted their price objective on shares of Eastman Chemical to $80.00 and gave the company a “hold” rating in a research report on Tuesday, October 29th. They noted that the move was a valuation call. Bank of America began coverage on shares of Eastman Chemical in a research report on Thursday, September 26th. They set a “buy” rating and a $84.00 price objective on the stock. Royal Bank of Canada reiterated a “hold” rating and set a $80.00 price objective on shares of Eastman Chemical in a research report on Sunday, December 22nd. Wells Fargo & Co boosted their price objective on shares of Eastman Chemical from $84.00 to $85.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Zacks Investment Research upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating and set a $83.00 price objective on the stock in a research report on Thursday, January 2nd. Eight investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Eastman Chemical has an average rating of “Hold” and a consensus target price of $83.38.

About Eastman Chemical

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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