Dimensional Fund Advisors LP Purchases 47,810 Shares of Eastman Chemical (NYSE:EMN)

Dimensional Fund Advisors LP raised its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 2.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,385,591 shares of the basic materials company's stock after purchasing an additional 47,810 shares during the quarter. Dimensional Fund Advisors LP owned approximately 2.06% of Eastman Chemical worth $217,850,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. James J. Burns & Company LLC purchased a new position in shares of Eastman Chemical during the fourth quarter worth approximately $741,000. Goelzer Investment Management Inc. bought a new stake in Eastman Chemical in the fourth quarter worth $3,319,000. Dakota Wealth Management boosted its position in Eastman Chemical by 14.6% during the fourth quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company's stock valued at $4,081,000 after buying an additional 5,700 shares during the period. Franklin Resources Inc. grew its stake 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 valued at $593,233,000 after buying an additional 282,458 shares during the last quarter. Finally, Olstein Capital Management L.P. increased its holdings in shares of Eastman Chemical by 16.1% in the fourth 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. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 3.1 %

Shares of NYSE:EMN opened at $79.34 on Wednesday. Eastman Chemical has a 1 year low of $70.90 and a 1 year high of $114.50. The stock's fifty day moving average price is $88.78 and its 200-day moving average price is $95.63. The company has a market cap of $9.14 billion, a P/E ratio of 10.33, a PEG ratio of 1.22 and a beta of 1.38. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

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, beating 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%. Sell-side analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were given a $0.83 dividend. The ex-dividend date was Friday, March 14th. This represents a $3.32 annualized dividend and a yield of 4.18%. Eastman Chemical's payout ratio is 43.23%.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on EMN shares. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Bank of America upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. KeyCorp decreased their price objective on shares of Eastman Chemical from $128.00 to $120.00 and set an "overweight" rating on the stock in a research report on Monday, April 14th. Piper Sandler cut their target price on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Finally, UBS Group dropped their price objective on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. Three analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.08.

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.

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