Sumitomo Mitsui DS Asset Management Company Ltd Has $1.11 Million Stock Position in Eastman Chemical (NYSE:EMN)

Sumitomo Mitsui DS Asset Management Company Ltd raised its position in Eastman Chemical (NYSE:EMN) by 1.4% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 12,135 shares of the basic materials company’s stock after acquiring an additional 168 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eastman Chemical were worth $1,108,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Crews Bank & Trust acquired a new stake in Eastman Chemical in the 4th quarter valued at $27,000. Wolff Wiese Magana LLC grew its holdings in shares of Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company’s stock valued at $32,000 after buying an additional 200 shares during the last quarter. Dunhill Financial LLC increased its position in shares of Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares in the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Eastman Chemical in the 3rd quarter worth about $38,000. Finally, Exchange Traded Concepts LLC lifted its position in Eastman Chemical by 784.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 604 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on EMN shares. JPMorgan Chase & Co. increased their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. UBS Group lowered their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, January 31st. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Royal Bank of Canada raised their price target on shares of 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, Deutsche Bank Aktiengesellschaft cut their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.54.

Insiders Place Their Bets

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the sale, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. This represents a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the business’s stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares of the company’s stock, valued at $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Up 1.6 %

Shares of NYSE EMN opened at $100.69 on Wednesday. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The stock has a market capitalization of $11.67 billion, a PE ratio of 13.11, a P/E/G ratio of 1.24 and a beta of 1.44. Eastman Chemical has a one year low of $81.00 and a one year high of $114.50. The business’s fifty day moving average price is $94.27 and its 200-day moving average price is $100.16.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. On average, equities research analysts anticipate that Eastman Chemical will post 8.47 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 3.30%. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Monday, December 16th. Eastman Chemical’s payout ratio is currently 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.