Distillate Capital Partners LLC Takes $15.67 Million Position in Eastman Chemical (NYSE:EMN)

Distillate Capital Partners LLC purchased a new stake in Eastman Chemical (NYSE:EMN - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 171,608 shares of the basic materials company's stock, valued at approximately $15,671,000. Distillate Capital Partners LLC owned about 0.15% of Eastman Chemical at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the 4th quarter worth $27,000. Picton Mahoney Asset Management increased its stake in Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after purchasing an additional 124 shares in the last quarter. Assetmark Inc. raised its holdings in Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after buying an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical during the fourth quarter valued at about $35,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $37,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on EMN. Bank of America upgraded 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. Barclays lowered their target price on Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research note on Monday, February 3rd. UBS Group reduced their price target on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a research report on Monday, April 7th. KeyCorp dropped 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 note on Monday. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.08.

Eastman Chemical Stock Down 0.2 %

Shares of NYSE:EMN traded down $0.18 on Thursday, reaching $76.61. The company had a trading volume of 1,628,810 shares, compared to its average volume of 1,018,054. The stock has a 50-day moving average price of $90.65 and a 200 day moving average price of $96.63. Eastman Chemical has a twelve month low of $70.90 and a twelve month high of $114.50. 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 stock has a market capitalization of $8.82 billion, a P/E ratio of 9.98, a P/E/G ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, equities analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a dividend of $0.83 per share. The ex-dividend date was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.33%. Eastman Chemical's dividend 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.