Illinois Municipal Retirement Fund Has $8.58 Million Position in Eastman Chemical (NYSE:EMN)

Illinois Municipal Retirement Fund boosted its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 30.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,929 shares of the basic materials company's stock after purchasing an additional 22,097 shares during the period. Illinois Municipal Retirement Fund owned 0.08% of Eastman Chemical worth $8,578,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in EMN. Crews Bank & Trust purchased a new position in Eastman Chemical during the 4th quarter worth approximately $27,000. Dunhill Financial LLC grew its position in Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after purchasing an additional 162 shares in the last quarter. Stonebridge Financial Group LLC purchased a new position in Eastman Chemical during the 4th quarter worth approximately $37,000. Versant Capital Management Inc grew its position in Eastman Chemical by 32.4% during the 4th quarter. Versant Capital Management Inc now owns 916 shares of the basic materials company's stock worth $84,000 after purchasing an additional 224 shares in the last quarter. Finally, CENTRAL TRUST Co grew its position in Eastman Chemical by 27.6% during the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company's stock worth $84,000 after purchasing an additional 200 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on EMN shares. Bank of America upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Mizuho boosted their price target on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Barclays lowered their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating on the stock in a report on Monday, February 3rd. KeyCorp boosted their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft lowered their price target on shares of Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a report on Monday, November 4th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of "Moderate Buy" and a consensus price target of $114.08.

Remove Ads

Eastman Chemical Stock Up 0.9 %

NYSE:EMN traded up $0.91 during trading hours on Friday, reaching $97.81. The company's stock had a trading volume of 866,471 shares, compared to its average volume of 1,076,812. The company has a market cap of $11.26 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth 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 business's 50-day moving average is $94.80 and its 200-day moving average is $100.29. 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 (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Equities research analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

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