GHP Investment Advisors Inc. boosted its holdings in Eastman Chemical (NYSE:EMN) by 8.1% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 27,900 shares of the basic materials company’s stock after buying an additional 2,096 shares during the quarter. GHP Investment Advisors Inc.’s holdings in Eastman Chemical were worth $2,789,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. First Mercantile Trust Co. acquired a new position in Eastman Chemical in the second quarter worth approximately $113,000. Fort L.P. purchased a new position in Eastman Chemical during the 2nd quarter worth approximately $116,000. Point72 Asset Management L.P. purchased a new position in Eastman Chemical during the 2nd quarter worth approximately $120,000. Cetera Advisor Networks LLC purchased a new position in Eastman Chemical during the 1st quarter worth approximately $215,000. Finally, Beaumont Financial Partners LLC purchased a new position in Eastman Chemical during the 1st quarter worth approximately $226,000. Hedge funds and other institutional investors own 83.00% of the company’s stock.

Several research firms have weighed in on EMN. ValuEngine cut shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research report on Wednesday, June 20th. Zacks Investment Research upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating and set a $111.00 price objective on the stock in a research report on Tuesday, July 3rd. Finally, Morgan Stanley lifted their price objective on shares of Eastman Chemical from $98.00 to $107.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 31st. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $105.31.

In other Eastman Chemical news, insider Lucian Boldea sold 3,523 shares of Eastman Chemical stock in a transaction on Tuesday, July 31st. The shares were sold at an average price of $103.58, for a total transaction of $364,912.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Scott V. King sold 16,192 shares of Eastman Chemical stock in a transaction on Friday, August 3rd. The shares were sold at an average price of $101.35, for a total transaction of $1,641,059.20. Following the sale, the chief accounting officer now directly owns 5,898 shares of the company’s stock, valued at approximately $597,762.30. The disclosure for this sale can be found here. Insiders have sold a total of 39,715 shares of company stock valued at $4,005,972 in the last three months. Company insiders own 1.18% of the company’s stock.

Shares of NYSE:EMN opened at $97.62 on Tuesday. The firm has a market cap of $13.77 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.26 and a beta of 1.08. Eastman Chemical has a 12-month low of $85.00 and a 12-month high of $112.45. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.69 and a quick ratio of 0.95.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, July 26th. The basic materials company reported $2.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.20 by $0.02. The company had revenue of $2.62 billion during the quarter, compared to analyst estimates of $2.59 billion. Eastman Chemical had a net margin of 15.30% and a return on equity of 21.79%. The company’s revenue for the quarter was up 8.4% on a year-over-year basis. During the same quarter last year, the business posted $1.98 EPS. equities analysts forecast that Eastman Chemical will post 8.57 EPS for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, October 5th. Shareholders of record on Friday, September 14th will be paid a dividend of $0.56 per share. This represents a $2.24 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date is Thursday, September 13th. Eastman Chemical’s dividend payout ratio (DPR) is currently 29.43%.

About Eastman Chemical

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

Further Reading: Momentum Indicator: Relative Strength Index

Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

Receive News & Ratings for Eastman Chemical Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical and related companies with MarketBeat.com's FREE daily email newsletter.