Securian Asset Management Inc. Sells 205 Shares of Eastman Chemical (NYSE:EMN)

Securian Asset Management Inc. cut its position in Eastman Chemical (NYSE:EMN) by 3.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,224 shares of the basic materials company’s stock after selling 205 shares during the quarter. Securian Asset Management Inc.’s holdings in Eastman Chemical were worth $568,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust bought a new position in Eastman Chemical during the fourth quarter worth $27,000. Assetmark Inc. boosted its position in Eastman Chemical by 384.4% during 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 position in Eastman Chemical during the fourth quarter worth $35,000. Dunhill Financial LLC boosted its position in 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. Finally, Stonebridge Financial Group LLC bought a new position in Eastman Chemical during the fourth quarter worth $37,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Up 0.5 %

EMN stock opened at $91.03 on Monday. The company has a market cap of $10.48 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The business has a 50-day simple moving average of $95.69 and a 200 day simple moving average of $100.07. Eastman Chemical has a 52 week low of $86.70 and a 52 week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results 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 return on equity of 16.27% and a net margin of 9.65%. Sell-side analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.65%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price objective for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Barclays reduced 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 report on Monday, February 3rd. KeyCorp boosted their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Finally, 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 report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

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.