Eastern Bank Has $15.27 Million Holdings in Eastman Chemical (NYSE:EMN)

Eastern Bank lessened its position in Eastman Chemical (NYSE:EMN) by 2.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 170,015 shares of the basic materials company’s stock after selling 4,472 shares during the quarter. Eastern Bank owned about 0.14% of Eastman Chemical worth $15,271,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. First Command Advisory Services Inc. bought a new stake in Eastman Chemical in the third quarter valued at about $26,000. Pacifica Partners Inc. bought a new stake in Eastman Chemical in the third quarter valued at about $28,000. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical in the second quarter valued at about $33,000. Money Concepts Capital Corp increased its stake in Eastman Chemical by 435.0% in the fourth quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company’s stock valued at $35,000 after acquiring an additional 348 shares during the period. Finally, Stonebridge Capital Advisors LLC boosted its position in Eastman Chemical by 134.0% in the second quarter. Stonebridge Capital Advisors LLC now owns 440 shares of the basic materials company’s stock valued at $37,000 after buying an additional 252 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Insider Transactions at Eastman Chemical

In other news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 2.28% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on EMN shares. Citigroup reduced their price target on shares of Eastman Chemical from $96.00 to $95.00 and set a “buy” rating on the stock in a research report on Tuesday, February 6th. UBS Group upped their target price on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. KeyCorp upped their target price on shares of Eastman Chemical from $95.00 to $101.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Stifel Nicolaus reduced their target price on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating on the stock in a research report on Monday, February 5th. Finally, The Goldman Sachs Group upped their target price on shares of Eastman Chemical from $82.00 to $92.00 and gave the stock a “neutral” rating in a research report on Thursday, December 14th. Seven research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $93.75.

Eastman Chemical Trading Up 0.4 %

NYSE:EMN traded up $0.38 during trading hours on Monday, hitting $100.21. The stock had a trading volume of 394,573 shares, compared to its average volume of 1,115,460. Eastman Chemical has a one year low of $68.89 and a one year high of $102.71. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35. The company has a market cap of $11.78 billion, a price-to-earnings ratio of 13.39, a P/E/G ratio of 1.11 and a beta of 1.54. The business’s 50 day moving average is $89.72 and its 200-day moving average is $84.18.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.21 billion. During the same quarter in the prior year, the firm earned $0.89 earnings per share. The firm’s revenue was down 7.0% compared to the same quarter last year. Sell-side analysts anticipate that Eastman Chemical will post 7.7 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.23%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is 43.26%.

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.