Eastman Chemical (NYSE:EMN) Shares Bought by F M Investments LLC

F M Investments LLC lifted its stake in Eastman Chemical (NYSE:EMN - Free Report) by 23.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 27,903 shares of the basic materials company's stock after acquiring an additional 5,295 shares during the quarter. F M Investments LLC's holdings in Eastman Chemical were worth $2,548,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of EMN. Franklin Resources Inc. increased its stake in Eastman Chemical by 10.8% during the fourth quarter. Franklin Resources Inc. now owns 5,785,259 shares of the basic materials company's stock valued at $528,310,000 after acquiring an additional 565,821 shares during the period. Invesco Ltd. boosted its position in shares of Eastman Chemical by 11.1% in the 4th quarter. Invesco Ltd. now owns 2,844,165 shares of the basic materials company's stock worth $259,729,000 after purchasing an additional 284,271 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in shares of Eastman Chemical by 4.0% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 2,843,506 shares of the basic materials company's stock worth $259,669,000 after purchasing an additional 109,316 shares in the last quarter. Geode Capital Management LLC grew its position in shares of Eastman Chemical by 1.7% in the 4th quarter. Geode Capital Management LLC now owns 2,832,593 shares of the basic materials company's stock valued at $257,986,000 after purchasing an additional 48,491 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Eastman Chemical during the 4th quarter worth approximately $150,537,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Trading Down 0.4 %

Shares of Eastman Chemical stock traded down $0.30 during mid-day trading on Wednesday, hitting $77.38. The stock had a trading volume of 189,059 shares, compared to its average volume of 1,012,323. The firm has a market cap of $8.91 billion, a P/E ratio of 10.08, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50. The firm has a 50-day moving average of $91.09 and a two-hundred day moving average of $96.76. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity 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 EPS for the quarter, beating 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%. Sell-side analysts forecast 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. Investors of record on Friday, March 14th were given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.29%. The ex-dividend date was Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is currently 43.23%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on EMN. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price target for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. KeyCorp reduced their price objective on shares of Eastman Chemical from $128.00 to $120.00 and set an "overweight" rating for the company in a research report on Monday. Royal Bank of Canada raised Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a report on Wednesday, April 9th. Finally, JPMorgan Chase & Co. raised their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $107.08.

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.