Achmea Investment Management B.V. Acquires 3,201 Shares of Eastman Chemical (NYSE:EMN)

Achmea Investment Management B.V. increased its position in Eastman Chemical (NYSE:EMN - Free Report) by 63.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,227 shares of the basic materials company's stock after buying an additional 3,201 shares during the period. Achmea Investment Management B.V.'s holdings in Eastman Chemical were worth $752,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the business. James J. Burns & Company LLC bought a new position in shares of Eastman Chemical in the fourth quarter worth about $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 boosted its stake in Eastman Chemical by 492.9% in the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company's stock valued at $23,863,000 after buying an additional 177,207 shares in the last quarter. KBC Group NV grew its holdings in shares of Eastman Chemical by 21.8% in the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company's stock worth $12,383,000 after purchasing an additional 19,809 shares during the last quarter. Finally, Principal Financial Group Inc. grew 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 buying an additional 9,447 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Stock Up 0.1 %

Shares of NYSE:EMN traded up $0.12 during midday trading on Wednesday, hitting $91.39. The stock had a trading volume of 1,006,644 shares, compared to its average volume of 912,412. 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 business's 50-day simple moving average is $95.80 and its 200-day simple moving average is $99.92. Eastman Chemical has a 12 month low of $86.70 and a 12 month high of $114.50. The company has a market cap of $10.53 billion, a P/E ratio of 11.90, a PEG ratio of 1.22 and a beta of 1.43.

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Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating 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, sell-side analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued 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 yield of 3.63%. Eastman Chemical's payout ratio is currently 43.23%.

Analyst Ratings Changes

EMN has been the topic of several research analyst reports. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their target price for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a report on Friday, January 31st. Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and boosted their target price for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. Finally, Royal Bank of Canada increased their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.08.

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.