Mirae Asset Global Investments Co. Ltd. Grows Position in Eastman Chemical (NYSE:EMN)

Mirae Asset Global Investments Co. Ltd. increased its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 28.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,903 shares of the basic materials company's stock after purchasing an additional 3,543 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in Eastman Chemical were worth $1,456,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of EMN. Crews Bank & Trust purchased a new position in Eastman Chemical during the fourth quarter valued at $27,000. Wolff Wiese Magana LLC grew its stake in Eastman Chemical by 238.1% during the third quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock valued at $32,000 after acquiring an additional 200 shares in the last quarter. Dunhill Financial LLC grew its stake in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock valued at $37,000 after acquiring an additional 162 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Eastman Chemical during the third quarter valued at $38,000. Finally, Exchange Traded Concepts LLC grew its stake in Eastman Chemical by 784.4% during the third quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 604 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 0.6 %

Shares of NYSE:EMN traded down $0.59 during trading hours on Friday, hitting $100.99. The company's stock had a trading volume of 829,322 shares, compared to its average volume of 1,146,727. Eastman Chemical has a 52 week low of $83.38 and a 52 week high of $114.50. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The company has a market capitalization of $11.71 billion, a price-to-earnings ratio of 13.15, a P/E/G ratio of 1.24 and a beta of 1.44. The firm's fifty day moving average price is $94.26 and its 200 day moving average price is $100.17.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results 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 16.40%. As a group, research analysts expect that Eastman Chemical will post 8.47 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.29%. Eastman Chemical's dividend payout ratio is currently 43.23%.

Wall Street Analyst Weigh In

EMN has been the subject of several research analyst reports. KeyCorp raised their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a research note on Monday, February 3rd. Mizuho lifted their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 26th. Citigroup cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $118.00 to $104.00 in a research note on Wednesday, December 18th. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Finally, UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a report on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $113.77.

Insider Activity

In related news, SVP Julie A. Mcalindon sold 4,456 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the transaction, the senior vice president now owns 4,403 shares in the company, valued at $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the business's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now owns 47,287 shares of the company's stock, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.93% of the company's stock.

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.