Eastman Chemical (NYSE:EMN) Shares Bought by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC increased its stake in Eastman Chemical (NYSE:EMN) by 12.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,651 shares of the basic materials company’s stock after purchasing an additional 285 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in Eastman Chemical were worth $297,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cultivar Capital Inc. bought a new position in shares of Eastman Chemical in the second quarter valued at approximately $29,000. Wolff Wiese Magana LLC boosted its stake in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 200 shares in the last quarter. Rothschild Investment LLC bought a new position in Eastman Chemical during the 2nd quarter valued at $38,000. Northwest Investment Counselors LLC bought a new stake in shares of Eastman Chemical in the 3rd quarter worth $38,000. Finally, Benjamin F. Edwards & Company Inc. lifted its holdings in shares of Eastman Chemical by 30.9% in the second quarter. Benjamin F. Edwards & Company Inc. now owns 610 shares of the basic materials company’s stock valued at $60,000 after buying an additional 144 shares during the period. Institutional investors own 83.65% of the company’s stock.

Insider Activity

In related news, SVP Christopher Moore Killian sold 3,061 shares of Eastman Chemical stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the sale, the senior vice president now owns 12,366 shares of the company’s stock, valued at approximately $1,298,430. The trade was a 19.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock worth $1,895,948 in the last three months. 1.93% of the stock is owned by insiders.

Eastman Chemical Price Performance

Shares of EMN opened at $99.73 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The company has a market capitalization of $11.56 billion, a price-to-earnings ratio of 13.35, a P/E/G ratio of 0.81 and a beta of 1.42. The business’s 50-day moving average is $104.54 and its 200-day moving average is $101.77. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The company had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. During the same quarter in the prior year, the firm earned $1.47 EPS. The company’s revenue was up 8.7% compared to the same quarter last year. Equities research analysts expect that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.83 per share. The ex-dividend date is Monday, December 16th. This is an increase 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 3.33%. Eastman Chemical’s dividend payout ratio (DPR) is 44.44%.

Analysts Set New Price Targets

A number of research firms recently issued reports on EMN. Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $114.00 to $119.00 in a report on Wednesday, October 16th. Deutsche Bank Aktiengesellschaft dropped their target price 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 raised 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. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Tuesday, December 3rd. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus price target of $112.86.

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.