Eastman Chemical (NYSE:EMN) Shares Sold by Tredje AP fonden

Tredje AP fonden lowered its stake in shares of Eastman Chemical (NYSE:EMN) by 19.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 38,770 shares of the basic materials company’s stock after selling 9,362 shares during the period. Tredje AP fonden’s holdings in Eastman Chemical were worth $3,540,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Crews Bank & Trust purchased a new position in shares of Eastman Chemical in the 4th quarter worth $27,000. Dunhill Financial LLC grew 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 valued at $37,000 after acquiring an additional 162 shares during the period. Assetmark Inc. increased its stake 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 acquiring an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in shares of Eastman Chemical in the 4th quarter worth about $35,000. Finally, Stonebridge Financial Group LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Down 2.2 %

EMN stock opened at $90.42 on Friday. 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 firm has a 50 day simple moving average of $95.60 and a 200-day simple moving average of $100.21. The company has a market capitalization of $10.41 billion, a P/E ratio of 11.77, a PEG ratio of 1.22 and a beta of 1.43. Eastman Chemical has a twelve month low of $86.70 and a twelve month high of $114.50.

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

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.67%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. UBS Group dropped their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, January 31st. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. KeyCorp upped their price target 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. Finally, Barclays cut their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

About Eastman Chemical

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.