Lido Advisors LLC Acquires New Position in Eastman Chemical (EMN)

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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.

NYSE:EMN opened at $78.64 on Friday. Eastman Chemical has a 52 week low of $67.40 and a 52 week high of $110.17. The company has a market capitalization of $10.99 billion, a P/E ratio of 9.59, a PEG ratio of 1.06 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a quick ratio of 0.96 and a current ratio of 1.82.

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%.

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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.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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