74,882 Shares in Eastman Chemical (NYSE:EMN) Bought by Proficio Capital Partners LLC

Proficio Capital Partners LLC purchased a new stake in Eastman Chemical (NYSE:EMN) during the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 74,882 shares of the basic materials company’s stock, valued at approximately $75,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new stake in Eastman Chemical during the fourth quarter valued at $27,000. Dunhill Financial LLC raised its position in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the last quarter. Assetmark Inc. increased its position in shares of Eastman Chemical by 384.4% during the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical in the 4th quarter valued at about $35,000. Finally, Stonebridge Financial Group LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth $37,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently issued reports on EMN. Piper Sandler raised their price objective on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Barclays cut their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. KeyCorp increased their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Six equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $87.09 on Friday. Eastman Chemical has a one year low of $86.50 and a one year high of $114.50. The company has a market capitalization of $10.03 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a fifty day moving average of $95.66 and a 200-day moving average of $99.36.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. As a group, equities analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.81%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

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.