Eastman Chemical (NYSE:EMN) Holdings Lifted by TriaGen Wealth Management LLC

TriaGen Wealth Management LLC boosted its position in shares of Eastman Chemical (NYSE:EMN) by 54.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 16,441 shares of the basic materials company’s stock after buying an additional 5,827 shares during the quarter. TriaGen Wealth Management LLC’s holdings in Eastman Chemical were worth $1,841,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Raymond James & Associates lifted its holdings in shares of Eastman Chemical by 6.8% during the third quarter. Raymond James & Associates now owns 572,808 shares of the basic materials company’s stock valued at $64,126,000 after purchasing an additional 36,365 shares during the last quarter. Capital Investment Advisors LLC acquired a new position in shares of Eastman Chemical in the 3rd quarter valued at $223,000. Blue Trust Inc. boosted its position in shares of Eastman Chemical by 32.2% in the 3rd quarter. Blue Trust Inc. now owns 5,389 shares of the basic materials company’s stock valued at $603,000 after purchasing an additional 1,313 shares during the period. Aaron Wealth Advisors LLC acquired a new position in shares of Eastman Chemical in the 3rd quarter valued at $220,000. Finally, V Square Quantitative Management LLC boosted its position in shares of Eastman Chemical by 3.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after purchasing an additional 98 shares during the period. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Down 0.6 %

Shares of Eastman Chemical stock traded down $0.61 during trading on Friday, hitting $108.84. 872,352 shares of the stock traded hands, compared to its average volume of 947,327. The stock has a market cap of $12.80 billion, a P/E ratio of 14.03, a PEG ratio of 0.83 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a quick ratio of 0.71 and a current ratio of 1.40. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $114.50. The company has a fifty day moving average price of $104.17 and a two-hundred day moving average price of $100.58.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business had revenue of $2.36 billion for the quarter, compared to the consensus estimate of $2.36 billion. During the same period last year, the business earned $1.99 EPS. The firm’s revenue was up 1.7% compared to the same quarter last year. Equities research analysts predict that Eastman Chemical will post 7.67 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were paid a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 2.98%. The ex-dividend date was Monday, September 16th. Eastman Chemical’s payout ratio is 41.75%.

Wall Street Analyst Weigh In

EMN has been the subject of a number of recent analyst reports. Mizuho increased their price target on Eastman Chemical from $102.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Piper Sandler reiterated a “neutral” rating and issued a $105.00 price target on shares of Eastman Chemical in a research report on Tuesday, July 30th. Citigroup decreased their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating for the company in a research report on Thursday, June 27th. Barclays raised their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Finally, StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Eight investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $110.20.

About Eastman Chemical

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.