Eastman Chemical (NYSE:EMN) Stock Holdings Lowered by Natixis Advisors LLC

Natixis Advisors LLC trimmed its position in Eastman Chemical (NYSE:EMN - Free Report) by 5.3% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 292,648 shares of the basic materials company's stock after selling 16,475 shares during the period. Natixis Advisors LLC owned 0.25% of Eastman Chemical worth $26,725,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management lifted its stake in Eastman Chemical by 62.3% during the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. boosted its holdings in Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock worth $34,000 after purchasing an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC bought a new stake in Eastman Chemical during the fourth quarter valued at $35,000. Finally, Dunhill Financial LLC raised its holdings in shares of Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after purchasing an additional 162 shares during the period. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EMN shares. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Wells Fargo & Company upgraded Eastman Chemical from an "equal weight" rating to an "overweight" rating and increased their price target for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Royal Bank of Canada raised their price target on Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a report on Tuesday, February 4th. JPMorgan Chase & Co. increased their target price on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research report on Monday, February 3rd. Finally, UBS Group cut their target price on Eastman Chemical from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Six investment 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 a consensus price target of $114.08.

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Eastman Chemical Price Performance

EMN traded down $1.34 on Friday, reaching $88.55. The company had a trading volume of 2,389,922 shares, compared to its average volume of 914,463. The company has a fifty day moving average of $95.90 and a 200-day moving average of $99.79. The company has a market capitalization of $10.20 billion, a P/E ratio of 11.53, a PEG ratio of 1.22 and a beta of 1.43. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50. 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 posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating analysts' consensus estimates 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 research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.75%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical's dividend payout ratio is presently 43.23%.

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.