Eastman Chemical Company (EMN) To Go Ex-Dividend on March 13th

Eastman Chemical Company (NYSE:EMN) announced a quarterly dividend on Thursday, February 12th. Stockholders of record on Friday, March 13th will be given a dividend of 0.84 per share by the basic materials company on Wednesday, April 8th. This represents a c) dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Friday, March 13th.

Eastman Chemical has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 15 years. Eastman Chemical has a payout ratio of 40.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Eastman Chemical to earn $9.56 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 35.1%.

Eastman Chemical Trading Down 0.5%

Shares of EMN stock opened at $69.23 on Wednesday. The stock has a market cap of $7.90 billion, a P/E ratio of 16.93, a price-to-earnings-growth ratio of 1.54 and a beta of 1.20. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $97.08. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The stock has a 50 day simple moving average of $72.41 and a 200 day simple moving average of $66.34.

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

Institutional Trading of Eastman Chemical

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. HighTower Advisors LLC increased its holdings in Eastman Chemical by 3,448.7% in the 4th quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after purchasing an additional 1,648,054 shares in the last quarter. Norges Bank bought a new position in shares of Eastman Chemical during the second quarter valued at $121,060,000. State Street Corp lifted its holdings in shares of Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock worth $363,314,000 after purchasing an additional 1,112,391 shares during the period. Allspring Global Investments Holdings LLC raised its position in Eastman Chemical by 97.0% during the 4th 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 last quarter. Finally, Arrowstreet Capital Limited Partnership grew its position in shares of Eastman Chemical by 101.6% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,425,806 shares of the basic materials company’s stock valued at $91,009,000 after buying an additional 718,502 shares during the last quarter. Institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.