Eastman Chemical (NYSE:EMN) Shares Sold by U.S. Capital Wealth Advisors LLC

U.S. Capital Wealth Advisors LLC cut its position in Eastman Chemical (NYSE:EMN) by 23.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 6,075 shares of the basic materials company’s stock after selling 1,864 shares during the period. U.S. Capital Wealth Advisors LLC’s holdings in Eastman Chemical were worth $546,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of EMN. Turtle Creek Wealth Advisors LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at $26,000. First Command Advisory Services Inc. purchased a new stake in Eastman Chemical in the third quarter valued at $26,000. Sound Income Strategies LLC grew its position in Eastman Chemical by 213.8% during the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 278 shares during the period. Bruce G. Allen Investments LLC purchased a new position in shares of Eastman Chemical during the 4th quarter valued at about $38,000. Finally, WASHINGTON TRUST Co lifted its holdings in shares of Eastman Chemical by 426.6% in the 4th quarter. WASHINGTON TRUST Co now owns 495 shares of the basic materials company’s stock valued at $44,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $98.75 on Tuesday. The stock’s 50-day simple moving average is $95.26 and its 200-day simple moving average is $87.55. The firm has a market capitalization of $11.62 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 earnings per share for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The company had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter last year, the company earned $1.63 earnings per share. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. As a group, equities research analysts forecast that Eastman Chemical will post 7.75 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.28%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical’s payout ratio is 41.75%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on EMN shares. KeyCorp raised their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. Redburn Atlantic initiated coverage on shares of Eastman Chemical in a research report on Thursday, February 15th. They set a “buy” rating and a $110.00 price target on the stock. Royal Bank of Canada upped their price objective on shares of Eastman Chemical from $100.00 to $104.00 and gave the stock a “sector perform” rating in a research report on Tuesday, April 30th. Wells Fargo & Company raised their target price on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Finally, Bank of America reduced their price target on Eastman Chemical from $113.00 to $112.00 and set a “buy” rating for the company in a report on Monday, April 29th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $104.18.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction that occurred on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 2.28% of the company’s stock.

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.