APG Asset Management N.V. Makes New Investment in Eastman Chemical (NYSE:EMN)

APG Asset Management N.V. purchased a new position in Eastman Chemical (NYSE:EMN - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 64,100 shares of the basic materials company's stock, valued at approximately $5,653,000. APG Asset Management N.V. owned about 0.06% of Eastman Chemical at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. James J. Burns & Company LLC bought a new position in shares of Eastman Chemical during the fourth quarter valued at $741,000. Goelzer Investment Management Inc. purchased a new stake in Eastman Chemical in the fourth quarter worth about $3,319,000. Dakota Wealth Management increased its holdings in Eastman Chemical by 14.6% in the 4th quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company's stock worth $4,081,000 after acquiring an additional 5,700 shares in the last quarter. Franklin Resources Inc. boosted its position in shares of Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock worth $593,233,000 after purchasing an additional 282,458 shares during the period. Finally, Olstein Capital Management L.P. boosted its holdings in Eastman Chemical by 16.1% in the 4th quarter. Olstein Capital Management L.P. now owns 66,779 shares of the basic materials company's stock worth $6,098,000 after buying an additional 9,279 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.6 %

Shares of EMN stock traded up $0.44 during trading hours on Thursday, reaching $77.23. 436,289 shares of the company's stock were exchanged, compared to its average volume of 1,013,887. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The company has a market cap of $8.89 billion, a price-to-earnings ratio of 10.04, a P/E/G ratio of 1.22 and a beta of 1.38. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The stock's 50 day moving average is $90.65 and its 200-day moving average is $96.63.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping 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%. Analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 4.30%. Eastman Chemical's dividend payout ratio is currently 43.23%.

Analysts Set New Price Targets

A number of brokerages have commented on EMN. Mizuho raised shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a research note on Thursday, April 3rd. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective on the stock in a research report on Wednesday, April 9th. Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and cut their target price for the company from $105.00 to $101.00 in a research note on Friday, April 4th. Finally, Piper Sandler dropped their price objective on 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's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.08.

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.