Advisory Services Network LLC Has $1.34 Million Position in Eastman Chemical (NYSE:EMN)

Advisory Services Network LLC grew its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 36.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 14,653 shares of the basic materials company's stock after purchasing an additional 3,899 shares during the period. Advisory Services Network LLC's holdings in Eastman Chemical were worth $1,338,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Private Trust Co. NA raised its holdings in Eastman Chemical by 14.0% in the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. lifted its position in Eastman Chemical by 2.2% during the fourth quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company's stock worth $503,000 after purchasing an additional 116 shares during the period. Picton Mahoney Asset Management grew its stake in Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after buying an additional 124 shares in the last quarter. Caprock Group LLC increased its holdings in Eastman Chemical by 4.2% in the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock valued at $295,000 after buying an additional 128 shares during the period. Finally, Global Retirement Partners LLC raised its position in shares of Eastman Chemical by 1.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company's stock valued at $846,000 after buying an additional 132 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on EMN shares. 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 note on Monday. Wells Fargo & Company reduced their price objective on Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. JPMorgan Chase & Co. increased their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a report on Monday, February 3rd. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Finally, Piper Sandler cut their target price on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and a consensus target price of $107.08.

Eastman Chemical Trading Down 0.2 %

Shares of NYSE EMN traded down $0.18 during midday trading on Friday, reaching $76.61. The stock had a trading volume of 1,628,810 shares, compared to its average volume of 1,019,300. The firm has a market cap of $8.82 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a twelve month low of $70.90 and a twelve month high of $114.50. The company's 50 day moving average price is $90.20 and its 200 day moving average price is $96.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted 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%. As a group, sell-side analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Eastman Chemical's payout ratio is 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.