17,361 Shares in Eastman Chemical Company $EMN Bought by GSA Capital Partners LLP

GSA Capital Partners LLP acquired a new stake in Eastman Chemical Company (NYSE:EMN) in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 17,361 shares of the basic materials company’s stock, valued at approximately $1,095,000.

A number of other hedge funds also recently made changes to their positions in the business. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical in the 2nd quarter worth about $25,000. Loomis Sayles & Co. L P bought a new stake in Eastman Chemical in the second quarter worth about $33,000. Rothschild Investment LLC boosted its stake in Eastman Chemical by 65.6% in the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 229 shares during the last quarter. Financial Consulate Inc. purchased a new stake in shares of Eastman Chemical during the 3rd quarter worth approximately $42,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Eastman Chemical in the 3rd quarter worth approximately $44,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 2.8%

Shares of NYSE EMN opened at $78.00 on Friday. The company has a current ratio of 1.37, a quick ratio of 0.86 and a debt-to-equity ratio of 0.70. The business has a 50-day moving average of $69.70 and a 200-day moving average of $65.43. The firm has a market capitalization of $8.90 billion, a price-to-earnings ratio of 19.07, a PEG ratio of 1.77 and a beta of 1.23. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $101.81.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The company’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.87 earnings per share. Sell-side analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, March 13th. Eastman Chemical’s dividend payout ratio is presently 82.15%.

Analyst Ratings Changes

A number of brokerages have recently commented on EMN. Citigroup upped their price target on Eastman Chemical from $75.00 to $78.00 and gave the company a “buy” rating in a research report on Tuesday, February 3rd. Evercore set a $75.00 target price on shares of Eastman Chemical in a research report on Wednesday. Royal Bank Of Canada reissued a “sector perform” rating and issued a $79.00 price target on shares of Eastman Chemical in a research report on Wednesday, February 4th. UBS Group cut their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of Eastman Chemical in a research note on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.21.

Eastman Chemical Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.