Eastman Chemical (NYSE:EMN) Shares Sold by Tredje AP fonden

Tredje AP fonden reduced its stake in Eastman Chemical (NYSE:EMN) by 19.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 38,770 shares of the basic materials company’s stock after selling 9,362 shares during the quarter. Tredje AP fonden’s holdings in Eastman Chemical were worth $3,540,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust purchased a new position in Eastman Chemical in the 4th quarter valued at $27,000. Dunhill Financial LLC boosted its holdings in shares of Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after acquiring an additional 162 shares in the last quarter. Assetmark Inc. boosted its holdings in shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in shares of Eastman Chemical during the fourth quarter worth about $35,000. Finally, Stonebridge Financial Group LLC purchased a new position in Eastman Chemical during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on EMN shares. Mizuho boosted their target price on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Citigroup lowered shares of 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 research report on Wednesday, December 18th. Finally, Barclays cut their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Stock Down 2.2 %

Shares of NYSE EMN opened at $90.42 on Friday. 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 firm’s 50-day moving average is $95.60 and its two-hundred day moving average is $100.21. Eastman Chemical has a 12-month low of $86.70 and a 12-month high of $114.50. The company has a market capitalization of $10.41 billion, a PE ratio of 11.77, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) 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%. Equities analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 3.67%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is presently 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.