1,978 Shares in Eastman Chemical (NYSE:EMN) Acquired by Modera Wealth Management LLC

Modera Wealth Management LLC bought a new position in Eastman Chemical (NYSE:EMN) in the third quarter, Holdings Channel reports. The institutional investor bought 1,978 shares of the basic materials company’s stock, valued at approximately $221,000.

A number of other hedge funds also recently bought and sold shares of the company. UMB Bank n.a. increased its stake in shares of Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock valued at $262,000 after buying an additional 96 shares during the period. V Square Quantitative Management LLC grew its stake in Eastman Chemical by 3.8% in the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after purchasing an additional 98 shares during the period. Lcnb Corp grew its stake in Eastman Chemical by 1.7% in the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after purchasing an additional 103 shares during the period. Kingswood Wealth Advisors LLC grew its stake in Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after purchasing an additional 111 shares during the period. Finally, Patrick M Sweeney & Associates Inc. grew its stake in Eastman Chemical by 3.3% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 111 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 1.7 %

Shares of NYSE:EMN opened at $104.84 on Wednesday. The company has a market cap of $12.33 billion, a P/E ratio of 13.51, a PEG ratio of 0.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. Eastman Chemical has a 1 year low of $72.87 and a 1 year high of $114.50. The stock’s fifty day moving average price is $105.54 and its 200-day moving average price is $100.89.

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 issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.09%. The ex-dividend date of this dividend was Monday, September 16th. Eastman Chemical’s payout ratio is currently 41.75%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMN. Bank of America cut Eastman Chemical from a “buy” rating to a “neutral” rating and upped their price target for the stock from $114.00 to $119.00 in a research note on Wednesday, October 16th. Barclays upped their price target on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research note on Monday, July 29th. Deutsche Bank Aktiengesellschaft upped their price target on Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research note on Monday, July 29th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Monday, July 29th. Finally, Wells Fargo & Company boosted their target price on Eastman Chemical from $105.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Eight research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and an average price target of $110.20.

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.