Eastman Chemical (NYSE:EMN) Shares Bought by West Michigan Advisors LLC

West Michigan Advisors LLC grew its position in shares of Eastman Chemical (NYSE:EMN) by 6.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,200 shares of the basic materials company’s stock after acquiring an additional 259 shares during the quarter. West Michigan Advisors LLC’s holdings in Eastman Chemical were worth $387,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently modified their holdings of the company. James J. Burns & Company LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $741,000. Goelzer Investment Management Inc. acquired a new stake in Eastman Chemical in the fourth quarter worth about $3,319,000. National Bank of Canada FI lifted its holdings in Eastman Chemical by 492.9% in the third quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock worth $23,863,000 after purchasing an additional 177,207 shares during the period. KBC Group NV lifted its holdings in Eastman Chemical by 21.8% in the third quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock worth $12,383,000 after purchasing an additional 19,809 shares during the period. Finally, Principal Financial Group Inc. lifted its holdings in Eastman Chemical by 6.8% in the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock worth $16,588,000 after purchasing an additional 9,447 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several research firms recently weighed in on EMN. UBS Group reduced their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. JPMorgan Chase & Co. upped their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays reduced their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Finally, Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Price Performance

NYSE EMN opened at $97.81 on Friday. The stock’s 50-day moving average price is $94.80 and its two-hundred day moving average price is $100.29. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The company has a market cap of $11.26 billion, a PE ratio of 12.74, a PEG ratio of 1.22 and a beta of 1.44. Eastman Chemical has a 1 year low of $86.59 and a 1 year high of $114.50.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate 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, analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently announced 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 dividend on an annualized basis and a dividend yield of 3.39%. Eastman Chemical’s dividend payout ratio is 43.23%.

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.