Prudent Man Advisors LLC Sells 123 Shares of Eastman Chemical (NYSE:EMN)

Prudent Man Advisors LLC cut its stake in shares of Eastman Chemical (NYSE:EMNGet Rating) by 1.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,354 shares of the basic materials company’s stock after selling 123 shares during the period. Prudent Man Advisors LLC’s holdings in Eastman Chemical were worth $824,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Confluence Wealth Services Inc. purchased a new stake in shares of Eastman Chemical during the 4th quarter valued at $25,000. Jones Financial Companies Lllp increased its holdings in Eastman Chemical by 217.5% in the 1st quarter. Jones Financial Companies Lllp now owns 308 shares of the basic materials company’s stock worth $35,000 after acquiring an additional 211 shares during the last quarter. Burleson & Company LLC purchased a new stake in Eastman Chemical in the 1st quarter worth about $36,000. Rockbridge Investment Management LCC boosted its stake in Eastman Chemical by 76.4% in the 4th quarter. Rockbridge Investment Management LCC now owns 427 shares of the basic materials company’s stock worth $52,000 after purchasing an additional 185 shares during the period. Finally, National Bank of Canada FI bought a new position in Eastman Chemical in the 4th quarter worth about $62,000. 87.40% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EMN has been the subject of several analyst reports. StockNews.com downgraded Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Monday, August 1st. Barclays dropped their price target on Eastman Chemical from $120.00 to $110.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and set a $102.00 price target for the company. in a research report on Monday, August 1st. KeyCorp lifted their price target on Eastman Chemical from $124.00 to $125.00 and gave the company an “overweight” rating in a research report on Monday, August 1st. Finally, Wolfe Research restated a “peer perform” rating and issued a $114.00 target price (down previously from $130.00) on shares of Eastman Chemical in a research report on Tuesday, April 19th. Nine research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $118.07.

Eastman Chemical Price Performance

EMN opened at $95.13 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.04 and a current ratio of 1.27. Eastman Chemical has a 52-week low of $84.95 and a 52-week high of $129.48. The stock has a market capitalization of $11.68 billion, a PE ratio of 10.33, a price-to-earnings-growth ratio of 1.29 and a beta of 1.43. The stock’s 50 day moving average price is $95.05 and its 200-day moving average price is $105.88.

Eastman Chemical (NYSE:EMNGet Rating) last issued its quarterly earnings results on Thursday, July 28th. The basic materials company reported $2.83 earnings per share for the quarter, topping the consensus estimate of $2.69 by $0.14. The company had revenue of $2.78 billion for the quarter, compared to analysts’ expectations of $2.79 billion. Eastman Chemical had a return on equity of 20.67% and a net margin of 11.18%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm earned $2.46 earnings per share. On average, equities research analysts predict that Eastman Chemical will post 9.7 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, October 7th. Investors of record on Thursday, September 15th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, September 14th. This represents a $3.04 annualized dividend and a yield of 3.20%. Eastman Chemical’s payout ratio is 33.01%.

Eastman Chemical Profile

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

Further Reading

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

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