Nomura Asset Management Co. Ltd. raised its position in Eastman Chemical (NYSE:EMN) by 3.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 24,161 shares of the basic materials company’s stock after purchasing an additional 838 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eastman Chemical were worth $1,766,000 as of its most recent filing with the SEC.

Other institutional investors also recently added to or reduced their stakes in the company. JNBA Financial Advisors acquired a new position in shares of Eastman Chemical during the 4th quarter valued at $28,000. Moody National Bank Trust Division bought a new stake in Eastman Chemical during the 4th quarter valued at $29,000. Proffitt & Goodson Inc. bought a new stake in Eastman Chemical during the 4th quarter valued at $36,000. Laurel Wealth Advisors LLC bought a new stake in Eastman Chemical during the 4th quarter valued at $37,000. Finally, Parallel Advisors LLC increased its stake in Eastman Chemical by 34.3% during the 4th quarter. Parallel Advisors LLC now owns 615 shares of the basic materials company’s stock valued at $44,000 after purchasing an additional 157 shares in the last quarter. Institutional investors own 81.12% of the company’s stock.

NYSE EMN opened at $78.64 on Friday. Eastman Chemical has a 1 year low of $67.40 and a 1 year high of $110.17. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.82 and a quick ratio of 0.96. The firm has a market capitalization of $10.99 billion, a PE ratio of 9.59, a PEG ratio of 1.06 and a beta of 1.15.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 31st. The basic materials company reported $1.39 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.60 by ($0.21). Eastman Chemical had a return on equity of 20.15% and a net margin of 10.64%. The firm had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.42 billion. Analysts forecast that Eastman Chemical will post 8.76 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Stockholders of record on Friday, March 15th will be paid a $0.62 dividend. The ex-dividend date is Thursday, March 14th. This represents a $2.48 annualized dividend and a dividend yield of 3.15%. Eastman Chemical’s payout ratio is 30.24%.

A number of brokerages have commented on EMN. Cowen lowered shares of Eastman Chemical from an “outperform” rating to a “market perform” rating and decreased their price target for the company from $94.00 to $88.00 in a research note on Wednesday, February 6th. Zacks Investment Research upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a research note on Tuesday, February 5th. Standpoint Research lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Thursday, January 31st. Morgan Stanley upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and set a $90.00 price target for the company in a research note on Thursday, January 17th. Finally, Jefferies Financial Group decreased their price target on shares of Eastman Chemical to $91.00 and set a “buy” rating for the company in a research note on Friday, December 21st. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $92.90.

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About Eastman Chemical

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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

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