Romano Brothers AND Company Has $1.43 Million Stake in Eastman Chemical Company $EMN

Romano Brothers AND Company lessened its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 27.9% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,434 shares of the basic materials company’s stock after selling 8,690 shares during the period. Romano Brothers AND Company’s holdings in Eastman Chemical were worth $1,432,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. MUFG Securities EMEA plc bought a new stake in shares of Eastman Chemical in the second quarter valued at approximately $25,000. Loomis Sayles & Co. L P acquired a new stake in Eastman Chemical during the second quarter worth approximately $33,000. Rothschild Investment LLC increased its stake in Eastman Chemical by 65.6% during the 3rd quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock worth $36,000 after acquiring an additional 229 shares during the period. Financial Consulate Inc. acquired a new position in Eastman Chemical in the 3rd quarter valued at $42,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Eastman Chemical during the 3rd quarter valued at $44,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Price Performance

Shares of EMN stock opened at $71.24 on Friday. The business has a fifty day simple moving average of $73.02 and a 200 day simple moving average of $66.44. The company has a market cap of $8.13 billion, a P/E ratio of 17.42, a P/E/G ratio of 1.61 and a beta of 1.20. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.70. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $89.28.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The business had revenue of $1.97 billion during the quarter, compared to the consensus estimate of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The business’s revenue was down 12.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.87 EPS. On average, sell-side analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date is Friday, March 13th. Eastman Chemical’s dividend payout ratio is currently 82.15%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on EMN shares. Bank of America raised their price target on Eastman Chemical from $74.00 to $79.00 and gave the stock a “buy” rating in a research report on Monday, February 2nd. Zacks Research raised shares of Eastman Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Royal Bank Of Canada reissued a “sector perform” rating and issued a $79.00 target price on shares of Eastman Chemical in a report on Wednesday, February 4th. Finally, JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday, February 2nd. Seven research analysts have rated the stock with a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Hold” and an average price target of $79.64.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.