UniSuper Management Pty Ltd Has $1.84 Million Stock Position in Eastman Chemical (NYSE:EMN)

UniSuper Management Pty Ltd boosted its stake in shares of Eastman Chemical (NYSE:EMN) by 24.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,092 shares of the basic materials company’s stock after purchasing an additional 4,006 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Eastman Chemical were worth $1,835,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EMN. BNP Paribas Financial Markets lifted its holdings in shares of Eastman Chemical by 107.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 161,467 shares of the basic materials company’s stock worth $18,076,000 after acquiring an additional 83,474 shares during the period. Townsquare Capital LLC bought a new position in Eastman Chemical during the 3rd quarter worth $236,000. Glenmede Trust Co. NA increased its stake in shares of Eastman Chemical by 5.2% in the third quarter. Glenmede Trust Co. NA now owns 21,193 shares of the basic materials company’s stock valued at $2,373,000 after buying an additional 1,042 shares during the period. CreativeOne Wealth LLC acquired a new stake in Eastman Chemical during the 3rd quarter valued at approximately $219,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Eastman Chemical by 3.2% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 62,587 shares of the basic materials company’s stock valued at $7,007,000 after buying an additional 1,940 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of research reports. Piper Sandler raised their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and cut their target price for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. KeyCorp upped their price objective on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Bank of America raised 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 report on Tuesday, January 14th. Finally, StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Trading Down 2.1 %

Shares of EMN stock opened at $87.09 on Monday. The company has a market capitalization of $10.03 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 52-week low of $86.50 and a 52-week high of $114.50. The business’s fifty day moving average is $95.66 and its 200 day moving average is $99.37. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.81%. Eastman Chemical’s dividend payout ratio is currently 43.23%.

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.