Eastman Chemical (NYSE:EMN) Stake Lifted by Keybank National Association OH

Keybank National Association OH increased its stake in Eastman Chemical (NYSE:EMN) by 2.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,111 shares of the basic materials company’s stock after acquiring an additional 155 shares during the period. Keybank National Association OH’s holdings in Eastman Chemical were worth $649,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. James J. Burns & Company LLC bought a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $741,000. Goelzer Investment Management Inc. acquired a new stake in Eastman Chemical during the fourth quarter valued at approximately $3,319,000. National Bank of Canada FI lifted its stake in Eastman Chemical by 492.9% during the third quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after purchasing an additional 177,207 shares during the last quarter. KBC Group NV lifted its stake in Eastman Chemical by 21.8% during the third quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock valued at $12,383,000 after purchasing an additional 19,809 shares during the last quarter. Finally, Principal Financial Group Inc. lifted 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 valued at $16,588,000 after purchasing an additional 9,447 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EMN has been the subject of several recent research reports. Mizuho increased their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research note on Tuesday, November 26th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. UBS Group cut their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their target price for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. Finally, KeyCorp upped their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the 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 Stock Up 2.1 %

EMN stock opened at $98.93 on Friday. Eastman Chemical has a 12-month low of $86.70 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. The company has a market cap of $11.39 billion, a price-to-earnings ratio of 12.88, a PEG ratio of 1.22 and a beta of 1.43. The company has a 50 day moving average of $95.39 and a two-hundred day moving average of $100.31.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. 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 declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.36%. Eastman Chemical’s dividend payout ratio (DPR) 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.