Bremer Trust National Association acquired a new position in shares of Eastman Chemical (NYSE:EMN) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,016 shares of the basic materials company’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Neuberger Berman Group LLC grew its position in Eastman Chemical by 1.5% in the 2nd quarter. Neuberger Berman Group LLC now owns 18,285 shares of the basic materials company’s stock worth $1,536,000 after purchasing an additional 273 shares during the last quarter. AXA grew its position in Eastman Chemical by 1.4% in the 2nd quarter. AXA now owns 14,200 shares of the basic materials company’s stock worth $1,193,000 after purchasing an additional 200 shares during the last quarter. Alliancebernstein L.P. grew its position in Eastman Chemical by 13.9% in the 2nd quarter. Alliancebernstein L.P. now owns 326,255 shares of the basic materials company’s stock worth $27,402,000 after purchasing an additional 39,923 shares during the last quarter. AJO LP grew its position in Eastman Chemical by 51.2% in the 2nd quarter. AJO LP now owns 59,393 shares of the basic materials company’s stock worth $4,988,000 after purchasing an additional 20,105 shares during the last quarter. Finally, Norinchukin Bank The grew its position in Eastman Chemical by 6.3% in the 2nd quarter. Norinchukin Bank The now owns 10,120 shares of the basic materials company’s stock worth $850,000 after purchasing an additional 601 shares during the last quarter. Hedge funds and other institutional investors own 82.49% of the company’s stock.

Eastman Chemical (NYSE EMN) opened at $97.43 on Friday. The company has a quick ratio of 0.94, a current ratio of 1.83 and a debt-to-equity ratio of 1.24. The stock has a market cap of $14,000.00, a P/E ratio of 14.14, a PEG ratio of 1.44 and a beta of 1.31. Eastman Chemical has a 1-year low of $74.78 and a 1-year high of $98.24.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 26th. The basic materials company reported $2.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.03 by $0.16. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. Eastman Chemical had a net margin of 10.89% and a return on equity of 22.77%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the firm posted $1.86 earnings per share. analysts anticipate that Eastman Chemical will post 7.12 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 5th. Stockholders of record on Monday, December 18th were issued a $0.56 dividend. The ex-dividend date of this dividend was Friday, December 15th. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.51. This represents a $2.24 annualized dividend and a dividend yield of 2.30%. Eastman Chemical’s dividend payout ratio (DPR) is 32.51%.

Several research analysts have commented on EMN shares. Jefferies Group restated a “buy” rating and issued a $96.00 target price on shares of Eastman Chemical in a research report on Tuesday, October 3rd. Deutsche Bank upped their target price on shares of Eastman Chemical from $95.00 to $100.00 and gave the stock a “buy” rating in a research report on Tuesday, October 10th. Zacks Investment Research cut shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. KeyCorp restated a “buy” rating and issued a $100.00 target price on shares of Eastman Chemical in a research report on Wednesday, October 4th. Finally, JPMorgan Chase & Co. upped their target price on shares of Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a research report on Monday, October 30th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $98.60.

In other news, SVP Perry Stuckey sold 5,200 shares of the stock in a transaction that occurred on Tuesday, October 31st. The shares were sold at an average price of $92.12, for a total value of $479,024.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.14% of the company’s stock.

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Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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