Eastman Chemical (NYSE:EMN) Shares Purchased by Natixis

Natixis raised its position in Eastman Chemical (NYSE:EMN) by 101.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,014 shares of the basic materials company’s stock after purchasing an additional 12,619 shares during the quarter. Natixis’ holdings in Eastman Chemical were worth $2,284,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the business. Capital Research Global Investors increased its position in Eastman Chemical by 13.4% in the 4th quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company’s stock valued at $537,561,000 after acquiring an additional 697,388 shares during the period. Franklin Resources Inc. increased its holdings in shares of Eastman Chemical by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 5,785,259 shares of the basic materials company’s stock valued at $528,310,000 after purchasing an additional 565,821 shares during the period. Invesco Ltd. raised its stake in shares of Eastman Chemical by 11.1% during the fourth quarter. Invesco Ltd. now owns 2,844,165 shares of the basic materials company’s stock valued at $259,729,000 after purchasing an additional 284,271 shares in the last quarter. Massachusetts Financial Services Co. MA lifted its holdings in Eastman Chemical by 4.0% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,843,506 shares of the basic materials company’s stock worth $259,669,000 after purchasing an additional 109,316 shares during the period. Finally, Geode Capital Management LLC grew its position in Eastman Chemical by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,832,593 shares of the basic materials company’s stock valued at $257,986,000 after buying an additional 48,491 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on EMN. KeyCorp reduced their price target on shares of Eastman Chemical from $128.00 to $120.00 and set an “overweight” rating for the company in a research note on Monday, April 14th. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and cut their target price for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Wells Fargo & Company dropped their price objective on Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 9th. Royal Bank of Canada raised Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Wednesday, April 9th. Finally, Piper Sandler cut their price target on shares of Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating for the company in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $107.08.

Eastman Chemical Stock Up 0.3 %

EMN stock opened at $77.02 on Tuesday. The company has a 50 day moving average of $89.23 and a two-hundred day moving average of $95.74. The company has a market cap of $8.87 billion, a price-to-earnings ratio of 10.03, a PEG ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

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

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.31%. The ex-dividend date was Friday, March 14th. Eastman Chemical’s dividend payout ratio is 43.23%.

Eastman Chemical 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.