Hantz Financial Services Inc. Cuts Stock Position in Eastman Chemical (NYSE:EMN)

Hantz Financial Services Inc. trimmed its position in shares of Eastman Chemical (NYSE:EMN) by 2.9% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 38,016 shares of the basic materials company’s stock after selling 1,128 shares during the quarter. Hantz Financial Services Inc.’s holdings in Eastman Chemical were worth $3,472,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Wolff Wiese Magana LLC lifted its holdings in shares of Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after acquiring an additional 200 shares during the last quarter. Dunhill Financial LLC lifted its stake in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in Eastman Chemical during the third quarter valued at about $38,000. Massmutual Trust Co. FSB ADV grew its stake in shares of Eastman Chemical by 52.6% during the third quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company’s stock valued at $60,000 after buying an additional 185 shares during the last quarter. Finally, Exchange Traded Concepts LLC increased its holdings in shares of Eastman Chemical by 784.4% in the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock worth $76,000 after buying an additional 604 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $92.62 on Friday. The business has a fifty day simple moving average of $94.92 and a two-hundred day simple moving average of $100.01. The firm has a market capitalization of $10.74 billion, a P/E ratio of 12.40, a P/E/G ratio of 0.67 and a beta of 1.44. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. Eastman Chemical has a 12 month low of $80.71 and a 12 month high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. On average, equities analysts forecast that Eastman Chemical will post 7.6 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Shareholders of record on Monday, December 16th were issued a $0.83 dividend. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Monday, December 16th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.58%. Eastman Chemical’s dividend payout ratio (DPR) is presently 44.44%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMN. Mizuho increased their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $110.00 to $125.00 in a research report on Tuesday, November 26th. Piper Sandler decreased their price objective on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating on the stock in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $105.00 target price on shares of Eastman Chemical in a report on Friday, November 22nd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and a consensus price target of $112.92.

Insiders Place Their Bets

In other news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Julie A. Mcalindon sold 4,456 shares of the company’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,021 shares of company stock valued at $1,895,948. 1.93% of the stock is owned by insiders.

Eastman Chemical 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.