TriaGen Wealth Management LLC Buys 5,827 Shares of Eastman Chemical (NYSE:EMN)

TriaGen Wealth Management LLC boosted its holdings in Eastman Chemical (NYSE:EMN) by 54.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 16,441 shares of the basic materials company’s stock after buying an additional 5,827 shares during the period. TriaGen Wealth Management LLC’s holdings in Eastman Chemical were worth $1,841,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in EMN. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $29,000. Wolff Wiese Magana LLC grew its holdings in shares of Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock worth $32,000 after purchasing an additional 200 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical during the 1st quarter worth approximately $34,000. EntryPoint Capital LLC acquired a new stake in shares of Eastman Chemical during the 1st quarter worth approximately $38,000. Finally, Rothschild Investment LLC acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $38,000. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the topic of several recent analyst reports. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. Wells Fargo & Company boosted their price target on Eastman Chemical from $105.00 to $118.00 and gave the company an “equal weight” rating in a research note on Tuesday. Royal Bank of Canada boosted their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research note on Friday, October 11th. Deutsche Bank Aktiengesellschaft boosted their price target on Eastman Chemical from $100.00 to $108.00 and gave the company a “hold” rating in a research note on Monday, July 29th. Finally, Bank of America lowered Eastman Chemical from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $114.00 to $119.00 in a research note on Wednesday. Eight analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $110.20.

Eastman Chemical Trading Down 0.6 %

NYSE EMN traded down $0.61 on Friday, reaching $108.84. The company had a trading volume of 872,352 shares, compared to its average volume of 947,327. The stock’s 50 day moving average is $104.17 and its 200-day moving average is $100.58. The stock has a market cap of $12.80 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 0.83 and a beta of 1.44. The company has a quick ratio of 0.71, a current ratio of 1.40 and a debt-to-equity ratio of 0.76. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $114.50.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The business had revenue of $2.36 billion during the quarter, compared to the consensus estimate of $2.36 billion. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.99 earnings per share. Equities analysts predict that Eastman Chemical will post 7.67 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Investors of record on Monday, September 16th were issued a $0.81 dividend. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.24 dividend on an annualized basis and a yield of 2.98%. Eastman Chemical’s dividend payout ratio is presently 41.75%.

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.