Todd Asset Management LLC Purchases 6,961 Shares of Eastman Chemical (NYSE:EMN)

Todd Asset Management LLC increased its stake in Eastman Chemical (NYSE:EMN - Free Report) by 1.6% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 434,404 shares of the basic materials company's stock after acquiring an additional 6,961 shares during the period. Todd Asset Management LLC owned about 0.37% of Eastman Chemical worth $39,670,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the 4th quarter valued at about $27,000. Dunhill Financial LLC boosted its stake in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after buying an additional 162 shares in the last quarter. Stonebridge Financial Group LLC bought a new position in Eastman Chemical during the fourth quarter valued at approximately $37,000. Versant Capital Management Inc raised its stake in shares of Eastman Chemical by 32.4% during the fourth quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company's stock worth $84,000 after acquiring an additional 224 shares in the last quarter. Finally, CENTRAL TRUST Co lifted its holdings in shares of Eastman Chemical by 27.6% in the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company's stock worth $84,000 after acquiring an additional 200 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on EMN shares. StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their price objective for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. JPMorgan Chase & Co. increased their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Citigroup lowered Eastman Chemical from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Finally, Mizuho increased their price objective on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $114.08.

Remove Ads

Eastman Chemical Stock Up 0.9 %

Shares of EMN traded up $0.91 on Friday, hitting $97.81. 866,471 shares of the stock traded hands, compared to its average volume of 1,076,812. The company has a market capitalization of $11.26 billion, a PE ratio of 12.74, a P/E/G ratio of 1.22 and a beta of 1.44. Eastman Chemical has a one year low of $86.59 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The business has a 50 day simple moving average of $94.80 and a 200 day simple moving average of $100.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping 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%. As a group, equities analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.39%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's dividend payout ratio is presently 43.23%.

About Eastman Chemical

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.