Vaughan David Investments LLC IL Has $487,000 Stock Holdings in Eastman Chemical (NYSE:EMN)

Vaughan David Investments LLC IL trimmed its stake in shares of Eastman Chemical (NYSE:EMN) by 9.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 5,329 shares of the basic materials company’s stock after selling 583 shares during the period. Vaughan David Investments LLC IL’s holdings in Eastman Chemical were worth $487,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Bank of New York Mellon Corp boosted its holdings in shares of Eastman Chemical by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,265,393 shares of the basic materials company’s stock worth $115,556,000 after buying an additional 51,367 shares during the period. Blackhawk Capital Partners LLC. lifted its position in shares of Eastman Chemical by 16.3% in the 4th quarter. Blackhawk Capital Partners LLC. now owns 3,001 shares of the basic materials company’s stock valued at $274,000 after acquiring an additional 421 shares in the last quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund acquired a new position in Eastman Chemical in the 4th quarter worth approximately $3,023,000. Concurrent Investment Advisors LLC purchased a new position in Eastman Chemical during the 4th quarter worth approximately $234,000. Finally, Cumberland Partners Ltd raised its stake in Eastman Chemical by 22.5% during the 4th quarter. Cumberland Partners Ltd now owns 63,125 shares of the basic materials company’s stock valued at $5,765,000 after purchasing an additional 11,590 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Price Performance

NYSE EMN opened at $98.88 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $11.39 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. Eastman Chemical has a 12-month low of $85.28 and a 12-month high of $114.50. The company has a 50 day moving average price of $94.52 and a two-hundred day moving average price of $100.33.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. As a group, equities analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Wall Street Analysts Forecast Growth

EMN has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft decreased their target price on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. UBS Group decreased their price objective on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. Piper Sandler raised their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, Eastman Chemical presently has an average rating of “Moderate Buy” and an average target price of $114.08.

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.