Lido Advisors LLC acquired a new stake in shares of Eastman Chemical (NYSE:EMN) in the fourth quarter, HoldingsChannel reports. The fund acquired 5,620 shares of the basic materials company’s stock, valued at approximately $414,000.
A number of other hedge funds have also recently bought and sold shares of the business. JNBA Financial Advisors acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $28,000. Moody National Bank Trust Division acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $29,000. Berman Capital Advisors LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $34,000. Proffitt & Goodson Inc. acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $36,000. Finally, Murphy Pohlad Asset Management LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $36,000. 81.12% of the stock is owned by institutional investors.
A number of equities analysts have recently weighed in on EMN shares. SunTrust Banks upped their target price on Eastman Chemical to $88.00 and gave the company a “hold” rating in a report on Monday, November 19th. ValuEngine downgraded Eastman Chemical from a “sell” rating to a “strong sell” rating in a report on Friday, November 23rd. Stifel Nicolaus started coverage on Eastman Chemical in a report on Monday, December 10th. They issued a “buy” rating and a $95.00 target price on the stock. Jefferies Financial Group dropped their target price on Eastman Chemical to $91.00 and set a “buy” rating on the stock in a report on Friday, December 21st. Finally, Standpoint Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Wednesday, December 26th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $92.90.
Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 31st. The basic materials company reported $1.39 EPS for the quarter, missing analysts’ consensus estimates of $1.60 by ($0.21). Eastman Chemical had a return on equity of 20.15% and a net margin of 10.64%. The firm had revenue of $2.38 billion during the quarter, compared to analyst estimates of $2.42 billion. On average, sell-side analysts anticipate that Eastman Chemical will post 8.76 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be issued a $0.62 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.15%. Eastman Chemical’s dividend payout ratio is currently 30.24%.
COPYRIGHT VIOLATION WARNING: “Lido Advisors LLC Acquires New Position in Eastman Chemical (EMN)” was first posted by Week Herald and is the property of of Week Herald. If you are accessing this piece of content on another domain, it was stolen and reposted in violation of United States and international trademark & copyright law. The legal version of this piece of content can be read at https://weekherald.com/2019/03/17/lido-advisors-llc-acquires-new-position-in-eastman-chemical-emn.html.
Eastman Chemical Profile
Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.
Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical (NYSE:EMN).
Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.