Kwmg LLC Increases Stock Holdings in Eastman Chemical Company $EMN

Kwmg LLC boosted its holdings in Eastman Chemical Company (NYSE:EMN) by 13.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 73,197 shares of the basic materials company’s stock after buying an additional 8,865 shares during the period. Kwmg LLC’s holdings in Eastman Chemical were worth $4,672,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Lodestone Wealth Management LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth about $33,000. Nisa Investment Advisors LLC grew its holdings in Eastman Chemical by 2.7% in the fourth quarter. Nisa Investment Advisors LLC now owns 63,153 shares of the basic materials company’s stock valued at $4,085,000 after purchasing an additional 1,636 shares during the period. Fifth Third Wealth Advisors LLC acquired a new position in Eastman Chemical during the fourth quarter worth approximately $225,000. Rockland Trust Co. acquired a new position in Eastman Chemical during the fourth quarter worth approximately $295,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Eastman Chemical by 97.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company’s stock worth $119,672,000 after purchasing an additional 916,023 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 0.6%

EMN opened at $75.85 on Thursday. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $88.73. The firm has a market capitalization of $8.65 billion, a P/E ratio of 18.55, a P/E/G ratio of 1.69 and a beta of 1.16. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.70. The firm’s 50 day moving average is $73.45 and its 200-day moving average is $66.60.

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

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be issued a $0.84 dividend. The ex-dividend date of this dividend is Friday, March 13th. This represents a $3.36 dividend on an annualized basis and a yield of 4.4%. Eastman Chemical’s dividend payout ratio is currently 82.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on EMN shares. Zacks Research raised shares of Eastman Chemical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wells Fargo & Company reaffirmed an “equal weight” rating and issued a $70.00 target price on shares of Eastman Chemical in a research report on Friday, December 19th. JPMorgan Chase & Co. lifted their target price on Eastman Chemical from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Monday, February 2nd. Royal Bank Of Canada reissued a “sector perform” rating and set a $79.00 price target on shares of Eastman Chemical in a research report on Wednesday, February 4th. Finally, Deutsche Bank Aktiengesellschaft raised their price objective on Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating and nine have issued a Hold rating to the stock. According to data from MarketBeat, Eastman Chemical presently has an average rating of “Hold” and a consensus price target of $79.64.

Eastman Chemical Company 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.