Lowe Brockenbrough & Co. Inc. Has $5.47 Million Stake in Eastman Chemical (NYSE:EMN)

Lowe Brockenbrough & Co. Inc. trimmed its stake in Eastman Chemical (NYSE:EMN - Get Rating) by 2.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 66,794 shares of the basic materials company's stock after selling 2,020 shares during the period. Lowe Brockenbrough & Co. Inc. owned 0.06% of Eastman Chemical worth $5,472,000 at the end of the most recent reporting period.

Several other institutional investors also recently added to or reduced their stakes in EMN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its position in Eastman Chemical by 2.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,261 shares of the basic materials company's stock worth $1,934,000 after buying an additional 386 shares during the period. Yousif Capital Management LLC boosted its stake in Eastman Chemical by 0.8% in the first quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company's stock worth $2,087,000 after purchasing an additional 150 shares in the last quarter. Cibc World Market Inc. raised its position in shares of Eastman Chemical by 10.4% during the first quarter. Cibc World Market Inc. now owns 6,098 shares of the basic materials company's stock worth $683,000 after acquiring an additional 572 shares during the last quarter. Blair William & Co. IL raised its position in shares of Eastman Chemical by 2.5% during the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company's stock worth $491,000 after acquiring an additional 105 shares during the last quarter. Finally, Sei Investments Co. raised its position in shares of Eastman Chemical by 16.4% during the first quarter. Sei Investments Co. now owns 200,656 shares of the basic materials company's stock worth $22,546,000 after acquiring an additional 28,338 shares during the last quarter. 83.42% of the stock is owned by institutional investors.

A number of equities research analysts recently commented on the company. Piper Sandler upgraded Eastman Chemical from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $96.00 to $99.00 in a report on Tuesday, April 11th. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a report on Friday, June 2nd. Mizuho boosted their target price on Eastman Chemical from $82.00 to $84.00 in a research note on Tuesday, May 2nd. Wells Fargo & Company decreased their target price on Eastman Chemical from $95.00 to $89.00 and set an "equal weight" rating for the company in a research note on Monday, April 17th. Finally, Barclays boosted their target price on Eastman Chemical from $87.00 to $90.00 in a research note on Monday, May 1st. Ten analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $95.31.

NYSE EMN traded up $0.06 during trading hours on Friday, hitting $80.48. 1,180,725 shares of the company traded hands, compared to its average volume of 995,219. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.68 and a current ratio of 1.34. The business's 50-day moving average is $81.37 and its 200-day moving average is $84.02. The stock has a market capitalization of $9.59 billion, a price-to-earnings ratio of 14.31, a P/E/G ratio of 1.10 and a beta of 1.50. Eastman Chemical has a twelve month low of $69.91 and a twelve month high of $106.40.

Eastman Chemical (NYSE:EMN - Get Rating) last released its quarterly earnings data on Friday, April 28th. The basic materials company reported $1.63 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.41. The firm had revenue of $2.41 billion for the quarter, compared to analyst estimates of $2.43 billion. Eastman Chemical had a return on equity of 17.03% and a net margin of 6.73%. The business's revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.06 earnings per share. Sell-side analysts anticipate that Eastman Chemical will post 7.94 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 7th. Shareholders of record on Thursday, June 15th will be paid a $0.79 dividend. The ex-dividend date is Wednesday, June 14th. This represents a $3.16 annualized dividend and a yield of 3.93%. Eastman Chemical's dividend payout ratio is 56.23%.

Eastman Chemical Co engages in the provision of specialty chemicals. It operates through the following segments: Advanced Material (AM), Additives and Functional Products (AFP), Chemical Intermediates (CI), and Fibers. The AM segment produces and markets its polymers, films, and plastics with differentiated performance properties for value-added end uses in transportation, consumables, building and construction, durable goods, and health and wellness markets.

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