Generali Asset Management SPA SGR Invests $2.79 Million in Eastman Chemical (NYSE:EMN)

Generali Asset Management SPA SGR purchased a new position in shares of Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 30,589 shares of the basic materials company's stock, valued at approximately $2,793,000.

A number of other large investors have also bought and sold shares of the stock. Private Trust Co. NA increased its stake in shares of Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company's stock worth $76,000 after buying an additional 103 shares during the period. Blue Trust Inc. grew its holdings in Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company's stock worth $503,000 after acquiring an additional 116 shares during the last quarter. Picton Mahoney Asset Management increased its position in shares of Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 124 shares during the period. Caprock Group LLC raised its stake in shares of Eastman Chemical by 4.2% during the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock valued at $295,000 after acquiring an additional 128 shares during the last quarter. Finally, Global Retirement Partners LLC boosted its holdings in shares of Eastman Chemical by 1.4% during the fourth quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company's stock worth $846,000 after purchasing an additional 132 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

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Eastman Chemical Stock Up 1.5 %

Shares of Eastman Chemical stock traded up $1.36 during midday trading on Monday, hitting $90.05. The company had a trading volume of 1,291,531 shares, compared to its average volume of 913,816. Eastman Chemical has a 52-week low of $86.70 and a 52-week 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 stock has a market capitalization of $10.37 billion, a P/E ratio of 11.72, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a 50 day moving average of $95.92 and a 200 day moving average of $99.69.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, equities analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.69%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's payout ratio is 43.23%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. KeyCorp boosted their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Wells Fargo & Company raised Eastman Chemical from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Mizuho boosted their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler raised their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a "neutral" rating in a research report on Thursday, February 13th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $114.08.

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.