Eastman Chemical (NYSE:EMN) Shares Purchased by Victory Capital Management Inc.

Victory Capital Management Inc. raised its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 61.1% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 254,916 shares of the basic materials company's stock after purchasing an additional 96,663 shares during the period. Victory Capital Management Inc. owned 0.22% of Eastman Chemical worth $23,279,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. James J. Burns & Company LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $741,000. Goelzer Investment Management Inc. purchased a new position in shares of Eastman Chemical in the 4th quarter valued at $3,319,000. National Bank of Canada FI raised its position in shares of Eastman Chemical by 492.9% in the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company's stock worth $23,863,000 after acquiring an additional 177,207 shares in the last quarter. KBC Group NV raised its holdings in Eastman Chemical by 21.8% in the third quarter. KBC Group NV now owns 110,610 shares of the basic materials company's stock worth $12,383,000 after purchasing an additional 19,809 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of Eastman Chemical by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock valued at $16,588,000 after purchasing an additional 9,447 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on EMN. Mizuho upped their target price on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. JPMorgan Chase & Co. increased their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. KeyCorp lifted their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. UBS Group cut their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Finally, Wells Fargo & Company upgraded shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and lifted their price objective for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $114.08.

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Eastman Chemical Stock Performance

NYSE:EMN traded up $1.32 during mid-day trading on Friday, hitting $91.03. The company's stock had a trading volume of 921,512 shares, compared to its average volume of 924,738. The business's fifty day moving average is $95.64 and its two-hundred day moving average is $100.14. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. Eastman Chemical has a 1 year low of $86.70 and a 1 year high of $114.50.

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 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%. Analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.65%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's dividend payout ratio is currently 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.