Fjarde AP Fonden Fourth Swedish National Pension Fund Takes Position in Eastman Chemical (NYSE:EMN)

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 33,100 shares of the basic materials company's stock, valued at approximately $3,023,000.

A number of other institutional investors have also modified their holdings of the stock. Concurrent Investment Advisors LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at $234,000. Cumberland Partners Ltd raised its position in shares of Eastman Chemical by 22.5% in the fourth quarter. Cumberland Partners Ltd now owns 63,125 shares of the basic materials company's stock worth $5,765,000 after acquiring an additional 11,590 shares during the period. Private Advisor Group LLC boosted its stake in shares of Eastman Chemical by 16.4% during the 4th quarter. Private Advisor Group LLC now owns 13,296 shares of the basic materials company's stock worth $1,214,000 after acquiring an additional 1,870 shares in the last quarter. Global Retirement Partners LLC grew its position in shares of Eastman Chemical by 1.4% during the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company's stock valued at $846,000 after acquiring an additional 132 shares during the period. Finally, Kentucky Retirement Systems Insurance Trust Fund grew its position in shares of Eastman Chemical by 57.5% during the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 5,451 shares of the basic materials company's stock valued at $498,000 after acquiring an additional 1,990 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

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Eastman Chemical Stock Performance

EMN stock traded up $0.91 during trading on Friday, hitting $97.81. The company had a trading volume of 866,471 shares, compared to its average volume of 1,076,812. The firm has a 50-day moving average price of $94.92 and a 200-day moving average price of $100.35. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market cap of $11.26 billion, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44. Eastman Chemical has a 1-year low of $86.59 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating 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%. On average, analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. The ex-dividend date is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.39%. Eastman Chemical's dividend payout ratio (DPR) is 43.23%.

Analyst Ratings Changes

A number of brokerages have issued reports on EMN. Mizuho increased their price target on Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price target for the stock from $115.00 to $109.00 in a report on Tuesday, January 14th. KeyCorp increased their price objective 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. JPMorgan Chase & Co. boosted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Finally, Royal Bank of Canada raised their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $114.08.

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.