Iams Wealth Management LLC Has $899,000 Stock Position in Eastman Chemical (NYSE:EMN)

Iams Wealth Management LLC boosted its holdings in shares of Eastman Chemical (NYSE:EMN) by 17.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 9,843 shares of the basic materials company’s stock after purchasing an additional 1,478 shares during the quarter. Iams Wealth Management LLC’s holdings in Eastman Chemical were worth $899,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Wolff Wiese Magana LLC raised its holdings in Eastman Chemical by 238.1% in the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Dunhill Financial LLC grew its holdings in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the last quarter. Northwest Investment Counselors LLC acquired a new position in shares of Eastman Chemical in the 3rd quarter worth approximately $38,000. Massmutual Trust Co. FSB ADV increased its stake in shares of Eastman Chemical by 52.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company’s stock valued at $60,000 after buying an additional 185 shares in the last quarter. Finally, Exchange Traded Concepts LLC lifted its position in shares of Eastman Chemical by 784.4% during the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 604 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on EMN shares. Mizuho raised their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft decreased their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Piper Sandler reduced their price target on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a report on Tuesday, January 7th. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their price target for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $112.92.

Insider Transactions at Eastman Chemical

In related news, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the transaction, the executive vice president now owns 47,287 shares of the company’s stock, valued at $4,965,135. This represents a 18.18 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total value of $321,405.00. Following the completion of the transaction, the senior vice president now owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,021 shares of company stock valued at $1,895,948. 1.93% of the stock is owned by corporate insiders.

Eastman Chemical Price Performance

NYSE:EMN opened at $92.32 on Wednesday. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. Eastman Chemical has a 12-month low of $80.71 and a 12-month high of $114.50. The stock’s 50 day moving average price is $95.31 and its two-hundred day moving average price is $100.12. The firm has a market capitalization of $10.70 billion, a price-to-earnings ratio of 12.36, a P/E/G ratio of 0.67 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping the consensus estimate of $2.14 by $0.12. The business had revenue of $2.46 billion during the quarter, compared to the consensus estimate of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. Eastman Chemical’s revenue was up 8.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.47 EPS. On average, analysts anticipate that Eastman Chemical will post 7.6 earnings per share for the current year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. Eastman Chemical’s payout ratio is presently 44.44%.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.