Bbva Compass Bancshares Inc. trimmed its stake in shares of Eastman Chemical (NYSE:EMN) by 5.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 38,861 shares of the basic materials company’s stock after selling 2,260 shares during the quarter. Bbva Compass Bancshares Inc.’s holdings in Eastman Chemical were worth $2,949,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in EMN. CSat Investment Advisory L.P. raised its position in shares of Eastman Chemical by 125.2% during the 4th quarter. CSat Investment Advisory L.P. now owns 349 shares of the basic materials company’s stock worth $26,000 after buying an additional 194 shares in the last quarter. JNBA Financial Advisors bought a new stake in shares of Eastman Chemical during the 4th quarter worth about $28,000. Nalls Sherbakoff Group LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth about $28,000. Capital Financial Planning LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth about $29,000. Finally, Berman Capital Advisors LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth about $34,000. Institutional investors own 83.15% of the company’s stock.
NYSE EMN opened at $75.78 on Friday. The company has a debt-to-equity ratio of 0.95, a quick ratio of 0.96 and a current ratio of 1.51. Eastman Chemical has a 12 month low of $67.40 and a 12 month high of $110.17. The company has a market capitalization of $10.50 billion, a P/E ratio of 9.24, a price-to-earnings-growth ratio of 1.01 and a beta of 1.14.
Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, April 25th. The basic materials company reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.14). Eastman Chemical had a return on equity of 18.60% and a net margin of 10.07%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.61 billion. During the same quarter in the previous year, the firm earned $2.23 earnings per share. The firm’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, research analysts expect that Eastman Chemical will post 8.57 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, July 5th. Investors of record on Monday, June 17th will be issued a $0.62 dividend. The ex-dividend date is Friday, June 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.27%. Eastman Chemical’s payout ratio is currently 30.24%.
EMN has been the topic of a number of recent analyst reports. Nomura upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $89.00 to $93.00 in a research report on Monday, April 15th. Zacks Investment Research downgraded shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Monday, April 1st. KeyCorp dropped their price target on shares of Eastman Chemical from $95.00 to $94.00 and set an “overweight” rating on the stock in a research report on Friday, April 12th. UBS Group set a $98.00 price target on shares of Eastman Chemical and gave the stock a “buy” rating in a research report on Friday, April 26th. Finally, Standpoint Research downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Two analysts have rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $91.55.
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About Eastman Chemical
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
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