Eastman Chemical (NYSE:EMN) Shares Sold by Tucker Asset Management LLC

Tucker Asset Management LLC lowered its holdings in Eastman Chemical (NYSE:EMN) by 16.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,355 shares of the basic materials company’s stock after selling 267 shares during the quarter. Tucker Asset Management LLC’s holdings in Eastman Chemical were worth $124,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new stake in shares of Eastman Chemical during the 4th quarter worth approximately $150,537,000. Norges Bank purchased a new stake in Eastman Chemical during the fourth quarter worth $137,416,000. Wealthfront Advisers LLC grew its position in Eastman Chemical by 3,136.8% during the fourth quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company’s stock valued at $67,213,000 after buying an additional 713,272 shares during the period. Franklin Resources Inc. increased its holdings in 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. Finally, National Bank of Canada FI raised its position in shares of Eastman Chemical by 492.9% in the third quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock worth $23,863,000 after acquiring an additional 177,207 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

NYSE:EMN opened at $87.09 on Friday. Eastman Chemical has a one year low of $86.50 and a one year high of $114.50. The stock has a market cap of $10.03 billion, a PE ratio of 11.34, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a 50 day moving average price of $95.66 and a 200 day moving average price of $99.37.

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

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

Analysts Set New Price Targets

EMN has been the topic of a number of analyst reports. Piper Sandler raised their target price on Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Royal Bank of Canada boosted their price objective on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Barclays decreased their target price 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 target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus 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.