Creative Planning Has $5.15 Million Holdings in Eastman Chemical (NYSE:EMN)

Creative Planning decreased its position in shares of Eastman Chemical (NYSE:EMN) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,979 shares of the basic materials company’s stock after selling 686 shares during the period. Creative Planning’s holdings in Eastman Chemical were worth $5,147,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors increased its position in shares of Eastman Chemical by 649.8% in the first quarter. Capital Research Global Investors now owns 4,511,466 shares of the basic materials company’s stock worth $452,139,000 after purchasing an additional 3,909,740 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of Eastman Chemical by 9.5% in the second quarter. Dimensional Fund Advisors LP now owns 2,280,699 shares of the basic materials company’s stock worth $223,435,000 after acquiring an additional 198,645 shares during the period. Earnest Partners LLC lifted its stake in shares of Eastman Chemical by 1.8% in the second quarter. Earnest Partners LLC now owns 2,240,013 shares of the basic materials company’s stock worth $219,454,000 after acquiring an additional 40,070 shares during the period. Bank of New York Mellon Corp increased its holdings in Eastman Chemical by 0.6% in the second quarter. Bank of New York Mellon Corp now owns 1,220,463 shares of the basic materials company’s stock worth $119,569,000 after purchasing an additional 7,847 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its stake in Eastman Chemical by 18.1% in the first quarter. Clearbridge Investments LLC now owns 1,120,604 shares of the basic materials company’s stock valued at $112,307,000 after buying an additional 171,945 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EMN. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price target on Eastman Chemical from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Bank of America downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and raised their target price for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Citigroup lowered their price target on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Finally, Piper Sandler reissued a “neutral” rating and set a $105.00 price objective on shares of Eastman Chemical in a report on Tuesday, July 30th. Eight investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus price target of $110.20.

Eastman Chemical Trading Down 0.2 %

NYSE EMN opened at $106.72 on Friday. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $114.50. The firm has a market capitalization of $12.56 billion, a PE ratio of 13.75, a P/E/G ratio of 0.83 and a beta of 1.44. The stock’s 50 day moving average is $105.06 and its 200 day moving average is $100.77.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.36 billion. During the same quarter in the previous year, the business earned $1.99 earnings per share. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. Research analysts forecast that Eastman Chemical will post 7.67 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.04%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s dividend payout ratio is currently 41.75%.

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.