Eastman Chemical (NYSE:EMN) Shares Purchased by Barclays PLC

Barclays PLC grew its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 74.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 549,769 shares of the basic materials company's stock after acquiring an additional 234,725 shares during the quarter. Barclays PLC owned about 0.47% of Eastman Chemical worth $50,203,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. James J. Burns & Company LLC purchased 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 4th quarter valued at approximately $3,319,000. Dakota Wealth Management boosted its holdings in shares of Eastman Chemical by 14.6% in the 4th quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company's stock valued at $4,081,000 after acquiring an additional 5,700 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Eastman Chemical by 5.7% during 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 last quarter. Finally, Olstein Capital Management L.P. lifted its position in Eastman Chemical by 16.1% during the fourth quarter. Olstein Capital Management L.P. now owns 66,779 shares of the basic materials company's stock valued at $6,098,000 after purchasing an additional 9,279 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on EMN shares. UBS Group decreased their price target on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Mizuho raised shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 target price for the company in a report on Thursday, April 3rd. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their price target for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. Finally, StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company's stock. Based on data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and an average price target of $107.08.

Eastman Chemical Trading Up 1.6 %

EMN traded up $1.30 during trading hours on Wednesday, reaching $80.59. The company's stock had a trading volume of 442,628 shares, compared to its average volume of 1,024,719. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. 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 stock has a market cap of $9.28 billion, a PE ratio of 10.49, a P/E/G ratio of 1.22 and a beta of 1.38. The business's 50-day moving average is $88.78 and its 200-day moving average is $95.63.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (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%. As a group, equities research analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were issued a $0.83 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.12%. Eastman Chemical's dividend 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.