Eastman Chemical (NYSE:EMN) Shares Bought by First American Bank

First American Bank boosted its holdings in shares of Eastman Chemical (NYSE:EMN) by 1.9% in the 4th quarter, Holdings Channel reports. The firm owned 34,209 shares of the basic materials company’s stock after buying an additional 645 shares during the period. First American Bank’s holdings in Eastman Chemical were worth $3,124,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Eastman Chemical in the fourth quarter valued at $27,000. Dunhill Financial LLC grew its holdings in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $35,000. Stonebridge Financial Group LLC purchased a new stake in Eastman Chemical during the fourth quarter valued at about $37,000. Finally, Ashton Thomas Securities LLC acquired a new position in shares of Eastman Chemical in the third quarter worth about $89,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the subject of a number of research reports. 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. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Deutsche Bank Aktiengesellschaft decreased their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. Mizuho boosted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Finally, Barclays lowered their price objective 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. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Trading Down 1.3 %

EMN opened at $96.92 on Friday. The firm has a market capitalization of $11.16 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.22 and a beta of 1.44. The company’s 50 day moving average price is $94.80 and its two-hundred day moving average price is $100.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. Eastman Chemical has a fifty-two week low of $85.28 and a fifty-two week high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS 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, research analysts predict that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders 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 dividend yield of 3.43%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio is presently 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.