Jump Financial LLC Trims Stock Holdings in Eastman Chemical (NYSE:EMN)

Jump Financial LLC cut its position in Eastman Chemical (NYSE:EMN - Free Report) by 83.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,710 shares of the basic materials company's stock after selling 18,625 shares during the period. Jump Financial LLC's holdings in Eastman Chemical were worth $339,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Barclays PLC boosted its position in shares of Eastman Chemical by 3.5% during the 3rd quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock valued at $35,268,000 after acquiring an additional 10,695 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Eastman Chemical during the third quarter worth about $656,000. Franklin Resources Inc. increased its stake in shares of Eastman Chemical by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock worth $593,233,000 after buying an additional 282,458 shares during the period. IMS Capital Management purchased a new stake in shares of Eastman Chemical during the third quarter worth approximately $280,000. Finally, Principal Financial Group Inc. increased its stake in Eastman Chemical by 6.8% in the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock valued at $16,588,000 after purchasing an additional 9,447 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 0.6 %

EMN stock traded up $0.42 during midday trading on Tuesday, hitting $76.13. The stock had a trading volume of 1,643,695 shares, compared to its average volume of 1,039,707. The firm has a market cap of $8.77 billion, a PE ratio of 9.91, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. 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 has a 12-month low of $70.90 and a 12-month high of $114.50. The company's 50-day moving average price is $86.87 and its 200 day moving average price is $94.64.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, beating analysts' consensus estimates of $1.89 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Eastman Chemical's revenue for the quarter was down .9% on a year-over-year basis. During the same quarter last year, the business earned $1.61 EPS. On average, equities research analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.36%. Eastman Chemical's payout ratio is 42.24%.

Analysts Set New Price Targets

Several equities analysts have commented on EMN shares. StockNews.com lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday. Citigroup upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $105.00 to $101.00 in a research note on Friday, April 4th. Barclays cut their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price target for the company in a report on Wednesday, April 9th. Finally, UBS Group cut their price target on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company's stock. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus price target of $101.00.

Eastman Chemical 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.