Eastman Chemical (NYSE:EMN) Position Decreased by Aldebaran Financial Inc.

Aldebaran Financial Inc. reduced its holdings in Eastman Chemical (NYSE:EMN) by 31.5% during the fourth quarter, Holdings Channel reports. The firm owned 5,932 shares of the basic materials company’s stock after selling 2,730 shares during the period. Aldebaran Financial Inc.’s holdings in Eastman Chemical were worth $533,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL lifted its stake in shares of Eastman Chemical by 2.5% in the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock worth $491,000 after buying an additional 105 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of Eastman Chemical by 4.1% in the second quarter. Sunbelt Securities Inc. now owns 3,107 shares of the basic materials company’s stock valued at $260,000 after acquiring an additional 122 shares during the period. Tucker Asset Management LLC increased its position in Eastman Chemical by 19.5% during the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 142 shares during the period. Yousif Capital Management LLC boosted its holdings in Eastman Chemical by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock valued at $2,087,000 after purchasing an additional 150 shares during the period. Finally, BOKF NA grew its position in Eastman Chemical by 3.8% in the 2nd quarter. BOKF NA now owns 4,259 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 154 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insider Transactions at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of the company’s stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 1.93% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE:EMN traded up $0.40 during trading on Friday, reaching $96.42. The company had a trading volume of 698,235 shares, compared to its average volume of 939,485. The stock has a market capitalization of $11.34 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.07 and a beta of 1.54. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $102.71. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The company has a fifty day moving average of $92.72 and a two-hundred day moving average of $85.69.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The business’s revenue was down 7.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.89 earnings per share. Equities research analysts forecast that Eastman Chemical will post 7.7 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 3.36%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.26%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. UBS Group lifted their price objective on Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a report on Friday, February 2nd. Royal Bank of Canada upped their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a research note on Friday. Citigroup boosted their price target on Eastman Chemical from $95.00 to $114.00 and gave the company a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company lifted their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Finally, KeyCorp increased their price target on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $97.81.

About Eastman Chemical

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.