Eastman Chemical (EMN) Shares Bought by SG Americas Securities LLC

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SG Americas Securities LLC increased its stake in shares of Eastman Chemical (NYSE:EMN) by 139.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 70,732 shares of the basic materials company’s stock after purchasing an additional 41,214 shares during the quarter. SG Americas Securities LLC’s holdings in Eastman Chemical were worth $5,367,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in EMN. CSat Investment Advisory L.P. boosted its position in shares of Eastman Chemical by 125.2% during the fourth quarter. CSat Investment Advisory L.P. now owns 349 shares of the basic materials company’s stock worth $26,000 after purchasing an additional 194 shares in the last quarter. JNBA Financial Advisors bought a new position in shares of Eastman Chemical during the fourth quarter worth $28,000. Nalls Sherbakoff Group LLC bought a new position in shares of Eastman Chemical during the fourth quarter worth $28,000. Moody National Bank Trust Division bought a new position in shares of Eastman Chemical during the fourth quarter worth $29,000. Finally, Capital Financial Planning LLC bought a new position in shares of Eastman Chemical during the fourth quarter worth $29,000. 83.11% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:EMN opened at $77.63 on Friday. Eastman Chemical has a 12 month low of $67.40 and a 12 month high of $110.17. The company has a current ratio of 1.82, a quick ratio of 0.96 and a debt-to-equity ratio of 1.01. The firm has a market cap of $10.95 billion, a P/E ratio of 9.47, a P/E/G ratio of 1.05 and a beta of 1.14.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.77 EPS for the quarter, missing analysts’ consensus estimates of $1.91 by ($0.14). Eastman Chemical had a return on equity of 18.63% and a net margin of 10.07%. The company had revenue of $2.38 billion for the quarter, compared to analyst estimates of $2.61 billion. During the same quarter in the previous year, the business earned $2.23 earnings per share. The company’s revenue was down 8.7% on a year-over-year basis. Research analysts predict that Eastman Chemical will post 8.59 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a dividend of $0.62 per share. The ex-dividend date was Thursday, March 14th. This represents a $2.48 dividend on an annualized basis and a dividend yield of 3.19%. Eastman Chemical’s payout ratio is 30.24%.

EMN has been the topic of a number of recent analyst reports. Nomura raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $89.00 to $93.00 in a research report on Monday, April 15th. Morgan Stanley raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and set a $90.00 price target on the stock in a research report on Thursday, January 17th. Standpoint Research cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Thursday, January 31st. Cowen cut shares of Eastman Chemical from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $94.00 to $88.00 in a research report on Wednesday, February 6th. Finally, Zacks Investment Research raised shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research report on Tuesday, March 19th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $91.55.

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Eastman Chemical Company 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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