Charles Schwab Investment Management Inc. Has $104.31 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

Charles Schwab Investment Management Inc. raised its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 0.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,142,288 shares of the basic materials company's stock after acquiring an additional 10,420 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.99% of Eastman Chemical worth $104,314,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. State Street Corp lifted its holdings in Eastman Chemical by 1.4% during the 3rd quarter. State Street Corp now owns 5,285,230 shares of the basic materials company's stock worth $595,820,000 after buying an additional 70,692 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Eastman Chemical by 5.7% during the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock valued at $593,233,000 after buying an additional 282,458 shares during the last quarter. Geode Capital Management LLC raised its stake in Eastman Chemical by 0.5% during the third quarter. Geode Capital Management LLC now owns 2,784,102 shares of the basic materials company's stock worth $310,628,000 after acquiring an additional 13,381 shares during the period. Massachusetts Financial Services Co. MA lifted its holdings in Eastman Chemical by 3.2% in the third quarter. Massachusetts Financial Services Co. MA now owns 2,734,190 shares of the basic materials company's stock worth $306,093,000 after acquiring an additional 83,504 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in Eastman Chemical by 4.2% in the fourth quarter. Bank of New York Mellon Corp now owns 1,265,393 shares of the basic materials company's stock valued at $115,556,000 after acquiring an additional 51,367 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several analysts recently issued reports on EMN shares. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price target for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. Piper Sandler boosted their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a report on Thursday, February 13th. KeyCorp lifted their price objective 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. Mizuho boosted 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. Finally, Wells Fargo & Company upgraded shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $114.08.

Eastman Chemical Price Performance

EMN stock traded down $1.99 on Thursday, hitting $90.42. 866,625 shares of the company's stock traded hands, compared to its average volume of 1,063,742. 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 stock has a market cap of $10.41 billion, a price-to-earnings ratio of 11.77, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 1-year low of $86.70 and a 1-year high of $114.50. The stock has a fifty day moving average of $95.60 and a 200-day moving average of $100.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping 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, analysts forecast 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. Shareholders 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 3.67%. Eastman Chemical's 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.