Guggenheim Capital LLC Lowers Stock Position in Eastman Chemical (NYSE:EMN)

Guggenheim Capital LLC decreased its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 1.9% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 265,602 shares of the basic materials company's stock after selling 5,208 shares during the quarter. Guggenheim Capital LLC owned approximately 0.23% of Eastman Chemical worth $24,255,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the business. Crews Bank & Trust bought a new stake in shares of Eastman Chemical in the 4th quarter valued at $27,000. Picton Mahoney Asset Management increased its holdings in shares of Eastman Chemical by 62.3% during 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 in the last quarter. Assetmark Inc. lifted its holdings in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC bought a new position in shares of Eastman Chemical in the fourth quarter valued at $35,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at about $37,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Down 0.2 %

Shares of NYSE:EMN traded down $0.18 on Friday, reaching $76.61. 1,628,810 shares of the company traded hands, compared to its average volume of 1,019,300. The stock has a market capitalization of $8.82 billion, a P/E ratio of 9.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. Eastman Chemical has a 52 week low of $70.90 and a 52 week high of $114.50. The business's 50-day simple moving average is $89.72 and its 200 day simple moving average is $96.15. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78.

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

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.33%. Eastman Chemical's dividend payout ratio (DPR) is presently 43.23%.

Analyst Ratings Changes

Several brokerages have recently issued reports on EMN. Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a research note on Thursday, April 3rd. Citigroup upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $105.00 to $101.00 in a research note on Friday, April 4th. Royal Bank of Canada upgraded shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research note on Wednesday, April 9th. JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a research report on Monday, February 3rd. Finally, StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $107.08.

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.