Elo Mutual Pension Insurance Co Increases Position in Eastman Chemical (NYSE:EMN)

Elo Mutual Pension Insurance Co increased its position in Eastman Chemical (NYSE:EMN) by 28.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,464 shares of the basic materials company’s stock after acquiring an additional 3,018 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Eastman Chemical were worth $1,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. purchased a new position in shares of Eastman Chemical in the fourth quarter worth about $150,537,000. Wealthfront Advisers LLC raised its position in Eastman Chemical by 3,136.8% during the 4th quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company’s stock worth $67,213,000 after buying an additional 713,272 shares during the last quarter. Franklin Resources Inc. lifted its stake in Eastman Chemical by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after acquiring an additional 282,458 shares during the period. National Bank of Canada FI boosted its holdings in shares of Eastman Chemical by 492.9% in the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after acquiring an additional 177,207 shares during the last quarter. Finally, Regents Gate Capital LLP acquired a new stake in shares of Eastman Chemical in the fourth quarter worth $10,235,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

NYSE EMN opened at $87.09 on Monday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The stock’s 50 day simple moving average is $95.66 and its 200-day simple moving average is $99.37. The company has a market cap of $10.03 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 1-year low of $86.50 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN) last announced 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%. As a group, equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

Analysts Set New Price Targets

EMN has been the subject of a number of research reports. JPMorgan Chase & Co. boosted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their target price for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. UBS Group decreased their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Finally, Royal Bank of Canada raised their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.08.

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.