Eastman Chemical (NYSE:EMN) Stock Position Lifted by Signaturefd LLC

Signaturefd LLC lifted its stake in shares of Eastman Chemical (NYSE:EMN) by 10.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,493 shares of the basic materials company’s stock after purchasing an additional 326 shares during the quarter. Signaturefd LLC’s holdings in Eastman Chemical were worth $319,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of EMN. Empowered Funds LLC boosted its holdings in shares of Eastman Chemical by 41.4% in the third quarter. Empowered Funds LLC now owns 13,967 shares of the basic materials company’s stock valued at $1,564,000 after acquiring an additional 4,092 shares in the last quarter. Quest Partners LLC acquired a new position in shares of Eastman Chemical during the 3rd quarter valued at $154,000. Pathstone Holdings LLC increased its position in shares of Eastman Chemical by 2.2% during the 3rd quarter. Pathstone Holdings LLC now owns 16,483 shares of the basic materials company’s stock valued at $1,846,000 after purchasing an additional 348 shares during the period. Caprock Group LLC raised its stake in shares of Eastman Chemical by 33.5% in the 3rd quarter. Caprock Group LLC now owns 3,068 shares of the basic materials company’s stock worth $346,000 after buying an additional 770 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Eastman Chemical in the third quarter valued at $314,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Ratings Changes

EMN has been the topic of several research reports. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. UBS Group cut their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. JPMorgan Chase & Co. lifted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada increased their price objective on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Finally, Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Trading Down 1.5 %

Shares of NYSE:EMN opened at $88.55 on Friday. Eastman Chemical has a 1 year low of $86.70 and a 1 year high of $114.50. The firm has a fifty day moving average price of $95.92 and a 200 day moving average price of $99.69. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The stock has a market capitalization of $10.20 billion, a PE ratio of 11.53, a P/E/G ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

About Eastman Chemical

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.