Commerce Bank Has $4.81 Million Position in Eastman Chemical (NYSE:EMN)

Commerce Bank raised its stake in Eastman Chemical (NYSE:EMN) by 474.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,686 shares of the basic materials company’s stock after acquiring an additional 43,513 shares during the period. Commerce Bank’s holdings in Eastman Chemical were worth $4,811,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Barclays PLC lifted its stake in Eastman Chemical by 3.5% during the third quarter. Barclays PLC now owns 315,044 shares of the basic materials company’s stock worth $35,268,000 after purchasing an additional 10,695 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Eastman Chemical during the 3rd quarter worth $656,000. Franklin Resources Inc. boosted its stake in Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after buying an additional 282,458 shares in the last quarter. IMS Capital Management bought a new position in Eastman Chemical in the third quarter valued at about $280,000. Finally, Principal Financial Group Inc. raised its stake in Eastman Chemical by 6.8% during the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock worth $16,588,000 after acquiring an additional 9,447 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EMN has been the topic of a number of research analyst reports. Royal Bank of Canada upgraded shares of Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 price target on the stock in a research note on Wednesday, April 9th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their price target for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. Citigroup upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. Finally, Mizuho raised Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 price target on the stock in a research note on Thursday, April 3rd. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. According to MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $107.08.

Eastman Chemical Stock Down 0.2 %

Shares of Eastman Chemical stock opened at $76.61 on Friday. Eastman Chemical has a one year low of $70.90 and a one year high of $114.50. 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 moving average is $89.72 and its 200 day moving average is $96.05. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 9.98, a PEG ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.33%. Eastman Chemical’s dividend payout ratio is 43.23%.

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.