Nisa Investment Advisors LLC Sells 775 Shares of Eastman Chemical (NYSE:EMN)

Nisa Investment Advisors LLC decreased its holdings in Eastman Chemical (NYSE:EMN) by 1.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 63,908 shares of the basic materials company’s stock after selling 775 shares during the quarter. Nisa Investment Advisors LLC owned 0.06% of Eastman Chemical worth $5,889,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in EMN. National Bank of Canada FI increased its stake in shares of Eastman Chemical by 492.9% in 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. KBC Group NV increased its position in Eastman Chemical by 21.8% in the third quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after buying an additional 19,809 shares in the last quarter. Principal Financial Group Inc. raised its stake in shares of Eastman Chemical by 6.8% in the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock worth $16,588,000 after buying an additional 9,447 shares during the period. Ensign Peak Advisors Inc lifted its position in shares of Eastman Chemical by 21.0% during the 2nd quarter. Ensign Peak Advisors Inc now owns 46,288 shares of the basic materials company’s stock valued at $4,535,000 after buying an additional 8,035 shares in the last quarter. Finally, Pathway Financial Advisers LLC bought a new position in shares of Eastman Chemical during the 3rd quarter valued at approximately $632,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the firm’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. This trade represents a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Christopher Moore Killian sold 3,061 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. The trade was a 19.84 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock valued at $1,895,948 in the last ninety days. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Down 1.1 %

Shares of NYSE EMN opened at $92.10 on Friday. The stock has a market capitalization of $10.68 billion, a price-to-earnings ratio of 12.33, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $95.70 and its 200-day moving average price is $100.13. Eastman Chemical has a 12-month low of $80.71 and a 12-month high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter last year, the firm earned $1.47 earnings per share. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Eastman Chemical will post 7.6 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, December 16th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. Eastman Chemical’s dividend payout ratio (DPR) is 44.44%.

Analyst Ratings Changes

Several brokerages have weighed in on EMN. Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Mizuho upped their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Royal Bank of Canada reissued a “sector perform” rating and set a $105.00 target price on shares of Eastman Chemical in a research note on Friday, November 22nd. Finally, Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $112.92.

Eastman Chemical 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.