Eastman Chemical (NYSE:EMN) Shares Purchased by Altrius Capital Management Inc

Altrius Capital Management Inc increased its stake in shares of Eastman Chemical (NYSE:EMN) by 2.5% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 41,711 shares of the basic materials company’s stock after purchasing an additional 1,011 shares during the period. Altrius Capital Management Inc’s holdings in Eastman Chemical were worth $3,746,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. First Command Advisory Services Inc. acquired a new position in shares of Eastman Chemical during the 3rd quarter worth about $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in Eastman Chemical in the 4th quarter valued at about $26,000. Sound Income Strategies LLC boosted its holdings in shares of 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 last quarter. Bruce G. Allen Investments LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Eastman Chemical in the third quarter valued at approximately $40,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Insider Buying and Selling

In related news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction dated 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 this link. Corporate insiders own 2.28% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently issued reports on EMN. Bank of America dropped their price target on Eastman Chemical from $113.00 to $112.00 and set a “buy” rating for the company in a research report on Monday. Royal Bank of Canada upped their price target on Eastman Chemical from $89.00 to $100.00 and gave the company a “sector perform” rating in a research report on Friday, April 19th. UBS Group upped their price target on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Mizuho upped their price target on Eastman Chemical from $91.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday. Finally, Stifel Nicolaus lowered their price objective on Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Seven analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average target price of $101.41.

Eastman Chemical Stock Up 1.9 %

Eastman Chemical stock traded up $1.78 during midday trading on Monday, reaching $97.34. The company’s stock had a trading volume of 1,308,268 shares, compared to its average volume of 1,094,609. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The company has a quick ratio of 0.70, a current ratio of 1.35 and a debt-to-equity ratio of 0.78. The company has a market cap of $11.45 billion, a P/E ratio of 12.63, a P/E/G ratio of 1.06 and a beta of 1.54. The business has a 50-day simple moving average of $93.98 and a 200-day simple moving average of $86.56.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm earned $1.63 earnings per share. The business’s revenue was down 4.2% compared to the same quarter last year. On average, research analysts expect that Eastman Chemical will post 7.71 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.33%. The ex-dividend date was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is currently 41.75%.

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.