Mackenzie Financial Corp Boosts Stake in Eastman Chemical (EMN)
Mackenzie Financial Corp grew its holdings in Eastman Chemical (NYSE:EMN) by 1,621.2% in the 4th quarter, HoldingsChannel.com reports. The fund owned 146,300 shares of the basic materials company’s stock after purchasing an additional 137,800 shares during the quarter. Mackenzie Financial Corp’s holdings in Eastman Chemical were worth $13,553,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also bought and sold shares of EMN. Steward Partners Investment Advisory LLC bought a new position in Eastman Chemical in the third quarter worth $113,000. Balter Liquid Alternatives LLC bought a new position in Eastman Chemical in the fourth quarter worth $115,000. Advisors Preferred LLC bought a new position in Eastman Chemical in the fourth quarter worth $120,000. NuWave Investment Management LLC bought a new position in Eastman Chemical in the fourth quarter worth $123,000. Finally, Vigilant Capital Management LLC bought a new position in Eastman Chemical in the fourth quarter worth $126,000. 83.68% of the stock is owned by institutional investors.
In other Eastman Chemical news, CAO Scott V. King sold 9,883 shares of Eastman Chemical stock in a transaction on Thursday, March 1st. The stock was sold at an average price of $100.82, for a total transaction of $996,404.06. Following the completion of the transaction, the chief accounting officer now directly owns 19,781 shares of the company’s stock, valued at $1,994,320.42. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Stephen R. Demeritt sold 4,000 shares of the firm’s stock in a transaction on Wednesday, February 7th. The shares were sold at an average price of $99.84, for a total value of $399,360.00. Following the completion of the sale, the director now owns 17,732 shares of the company’s stock, valued at $1,770,362.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 87,335 shares of company stock valued at $8,634,831. Company insiders own 1.14% of the company’s stock.
Eastman Chemical (EMN) opened at $100.75 on Monday. The stock has a market capitalization of $14,403.90, a price-to-earnings ratio of 9.96, a price-to-earnings-growth ratio of 1.34 and a beta of 1.25. Eastman Chemical has a twelve month low of $76.02 and a twelve month high of $104.46. The company has a debt-to-equity ratio of 1.12, a quick ratio of 0.82 and a current ratio of 1.59.
Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, February 1st. The basic materials company reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.56. The company had revenue of $2.36 billion during the quarter, compared to analysts’ expectations of $2.24 billion. Eastman Chemical had a return on equity of 22.02% and a net margin of 15.44%. The business’s revenue was up 8.0% on a year-over-year basis. During the same period last year, the business earned $1.51 earnings per share. equities research analysts anticipate that Eastman Chemical will post 8.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 6th. Shareholders of record on Thursday, March 15th will be issued a dividend of $0.56 per share. The ex-dividend date is Wednesday, March 14th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.22%. Eastman Chemical’s payout ratio is presently 22.13%.
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Eastman Chemical Company Profile
Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.
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