Zurcher Kantonalbank Zurich Cantonalbank Grows Position in Eastman Chemical (NYSE:EMN)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 6.1% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 66,424 shares of the basic materials company's stock after purchasing an additional 3,837 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Eastman Chemical worth $6,066,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sowell Financial Services LLC raised its holdings in Eastman Chemical by 7.7% in the 4th quarter. Sowell Financial Services LLC now owns 12,562 shares of the basic materials company's stock worth $1,147,000 after acquiring an additional 902 shares during the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Eastman Chemical by 0.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 944,088 shares of the basic materials company's stock worth $86,214,000 after purchasing an additional 8,356 shares during the last quarter. RKL Wealth Management LLC lifted its holdings in shares of Eastman Chemical by 5.3% during the fourth quarter. RKL Wealth Management LLC now owns 14,300 shares of the basic materials company's stock valued at $1,306,000 after purchasing an additional 724 shares in the last quarter. Andra AP fonden boosted its position in shares of Eastman Chemical by 4.9% during the fourth quarter. Andra AP fonden now owns 43,200 shares of the basic materials company's stock valued at $3,945,000 after buying an additional 2,000 shares during the last quarter. Finally, Callan Family Office LLC purchased a new position in Eastman Chemical in the 4th quarter worth about $228,000. 83.65% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Citigroup downgraded shares of Eastman Chemical from a "buy" rating to a "neutral" rating and dropped their price target for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. Mizuho lifted their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. Royal Bank of Canada lifted their price objective on Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 4th. Finally, 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 report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $114.08.

Eastman Chemical Stock Performance

NYSE EMN traded up $0.06 on Tuesday, reaching $91.22. 875,344 shares of the stock were exchanged, compared to its average volume of 915,363. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50. The firm has a market capitalization of $10.51 billion, a PE ratio of 11.88, a PEG ratio of 1.22 and a beta of 1.43. The company's 50-day simple moving average is $95.74 and its two-hundred day simple moving average is $100.00.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS 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%. Analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.64%. The ex-dividend date is Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is 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.