Eastman Chemical (NYSE:EMN) Holdings Raised by Polar Asset Management Partners Inc.

Polar Asset Management Partners Inc. raised its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 57.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 41,400 shares of the basic materials company's stock after purchasing an additional 15,100 shares during the period. Polar Asset Management Partners Inc.'s holdings in Eastman Chemical were worth $4,635,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of EMN. Tidal Investments LLC boosted its stake in shares of Eastman Chemical by 31.3% during the first quarter. Tidal Investments LLC now owns 7,468 shares of the basic materials company's stock valued at $748,000 after acquiring an additional 1,780 shares during the last quarter. Cetera Investment Advisers boosted its position in Eastman Chemical by 81.5% during the first quarter. Cetera Investment Advisers now owns 47,691 shares of the basic materials company's stock worth $4,780,000 after acquiring an additional 21,412 shares during the last quarter. Cetera Advisors LLC raised its holdings in Eastman Chemical by 119.7% in the 1st quarter. Cetera Advisors LLC now owns 10,088 shares of the basic materials company's stock valued at $1,011,000 after acquiring an additional 5,496 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its stake in shares of Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company's stock worth $394,000 after purchasing an additional 111 shares during the period. Finally, Park Avenue Securities LLC boosted its holdings in shares of Eastman Chemical by 3.5% during the second quarter. Park Avenue Securities LLC now owns 8,925 shares of the basic materials company's stock worth $874,000 after purchasing an additional 305 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Down 0.4 %

Eastman Chemical stock traded down $0.44 during midday trading on Thursday, hitting $101.50. 1,295,721 shares of the company were exchanged, compared to its average volume of 958,326. The company has a market cap of $11.76 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 0.82 and a beta of 1.42. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50. The company's fifty day moving average price is $105.61 and its 200-day moving average price is $101.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, October 31st. The basic materials company reported $2.26 EPS for the quarter, topping analysts' consensus estimates of $2.14 by $0.12. The business had revenue of $2.46 billion for the quarter, compared to analysts' expectations of $2.38 billion. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business's revenue for the quarter was up 8.7% compared to the same quarter last year. During the same period in the previous year, the company posted $1.47 earnings per share. On average, research analysts predict that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th will be paid a dividend of $0.83 per share. This is an increase from Eastman Chemical's previous quarterly dividend of $0.81. This represents a $3.32 annualized dividend and a dividend yield of 3.27%. Eastman Chemical's dividend payout ratio (DPR) is currently 43.37%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on EMN shares. Bank of America downgraded Eastman Chemical from a "buy" rating to a "neutral" rating and increased their target price for the stock from $114.00 to $119.00 in a research report on Wednesday, October 16th. Royal Bank of Canada reiterated a "sector perform" rating and set a $105.00 price objective on shares of Eastman Chemical in a report on Friday, November 22nd. Mizuho boosted their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a report on Tuesday, November 26th. Wells Fargo & Company raised shares of 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 note on Tuesday, November 26th. Finally, StockNews.com raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $112.86.

Insider Buying and Selling

In other Eastman Chemical news, SVP Christopher Moore Killian sold 3,061 shares of the firm's stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $105.00, for a total transaction of $321,405.00. Following the completion of the transaction, the senior vice president now directly owns 12,366 shares of the company's stock, valued at $1,298,430. This trade represents a 19.84 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Julie A. Mcalindon sold 4,456 shares of the business's stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company's stock, valued at $466,013.52. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,021 shares of company stock worth $1,895,948. 1.93% of the stock is currently owned by corporate insiders.

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.