Intact Investment Management Inc. reduced its position in Eastman Chemical (NYSE:EMN - Free Report) by 16.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 35,200 shares of the basic materials company's stock after selling 6,760 shares during the period. Intact Investment Management Inc.'s holdings in Eastman Chemical were worth $3,214,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Eastman Chemical in the 4th quarter worth approximately $27,000. Assetmark Inc. raised its holdings in 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 acquiring an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in Eastman Chemical in the 4th quarter worth approximately $35,000. Dunhill Financial LLC raised its holdings in Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after acquiring an additional 162 shares during the last quarter. Finally, Stonebridge Financial Group LLC purchased a new position in Eastman Chemical in the 4th quarter worth approximately $37,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.
Eastman Chemical Price Performance
Eastman Chemical stock traded up $0.12 during mid-day trading on Wednesday, hitting $91.39. The stock had a trading volume of 1,006,644 shares, compared to its average volume of 912,412. The firm has a market capitalization of $10.53 billion, a P/E ratio of 11.90, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The firm's 50 day moving average is $95.80 and its 200 day moving average is $99.92. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50.
Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS 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%. On average, sell-side analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.
Eastman Chemical Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors 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 3.63%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's payout ratio is 43.23%.
Wall Street Analyst Weigh In
EMN has been the subject of a number of research reports. Barclays decreased their target price on shares of Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada boosted their target price 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. Bank of America upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and decreased their target price for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. Finally, Citigroup lowered shares of Eastman Chemical from a "buy" rating to a "neutral" rating and decreased their target price for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $114.08.
Get Our Latest Stock Analysis on Eastman Chemical
Eastman Chemical Company Profile
(
Free Report)
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.
Featured Articles
Before you consider Eastman Chemical, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Eastman Chemical wasn't on the list.
While Eastman Chemical currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
MarketBeat just released its list of 10 cheap stocks that have been overlooked by the market and may be seriously undervalued. Enter your email address and below to see which companies made the list.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
