Eastman Chemical Company $EMN Shares Acquired by Calydon Capital

Calydon Capital raised its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 17.3% in the third quarter, Holdings Channel.com reports. The firm owned 76,649 shares of the basic materials company’s stock after buying an additional 11,320 shares during the period. Calydon Capital’s holdings in Eastman Chemical were worth $4,833,000 as of its most recent SEC filing.

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

Analyst Upgrades and Downgrades

EMN has been the topic of a number of research analyst reports. Evercore set a $75.00 target price on Eastman Chemical in a report on Wednesday, February 18th. Royal Bank Of Canada restated a “sector perform” rating and set a $79.00 price objective on shares of Eastman Chemical in a research note on Wednesday, February 4th. KeyCorp reaffirmed an “overweight” rating on shares of Eastman Chemical in a report on Monday, February 2nd. Wells Fargo & Company reissued an “equal weight” rating and set a $70.00 target price on shares of Eastman Chemical in a report on Friday, December 19th. Finally, Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c)” rating in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the company. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of “Hold” and a consensus target price of $79.64.

Eastman Chemical Trading Down 1.9%

NYSE:EMN opened at $69.23 on Friday. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $92.19. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63. The business has a 50 day simple moving average of $72.71 and a 200 day simple moving average of $66.37. The firm has a market capitalization of $7.90 billion, a P/E ratio of 16.93, a P/E/G ratio of 1.53 and a beta of 1.20.

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

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be given a $0.84 dividend. The ex-dividend date is Friday, March 13th. This represents a $3.36 annualized dividend and a yield of 4.9%. Eastman Chemical’s dividend payout ratio (DPR) is currently 82.15%.

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.