Eastman Chemical (NYSE:EMN) Shares Bought by Intrust Bank NA

Intrust Bank NA increased its position in Eastman Chemical (NYSE:EMN) by 3.6% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,776 shares of the basic materials company’s stock after acquiring an additional 270 shares during the period. Intrust Bank NA’s holdings in Eastman Chemical were worth $710,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Private Trust Co. NA increased its stake in shares of Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. increased its position in Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock valued at $503,000 after acquiring an additional 116 shares during the period. Picton Mahoney Asset Management raised its stake in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 124 shares in the last quarter. Caprock Group LLC boosted its position in Eastman Chemical by 4.2% during the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock worth $295,000 after acquiring an additional 128 shares during the period. Finally, Global Retirement Partners LLC grew its stake in shares of Eastman Chemical by 1.4% in the fourth quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock worth $846,000 after purchasing an additional 132 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup downgraded shares of Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Piper Sandler boosted their target price on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. UBS Group cut their price objective on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Stock Performance

Shares of EMN opened at $87.09 on Friday. Eastman Chemical has a one year low of $86.50 and a one year high of $114.50. The company has a 50-day moving average of $95.66 and a two-hundred day moving average of $99.37. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The stock has a market cap of $10.03 billion, a price-to-earnings ratio of 11.34, a PEG ratio of 1.22 and a beta of 1.43.

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, topping 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%. On average, equities research analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.81%. Eastman Chemical’s payout ratio is presently 43.23%.

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.