Asset Management One Co. Ltd. Acquires 542 Shares of Eastman Chemical (NYSE:EMN)

Asset Management One Co. Ltd. increased its holdings in Eastman Chemical (NYSE:EMN) by 1.2% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 45,619 shares of the basic materials company’s stock after acquiring an additional 542 shares during the quarter. Asset Management One Co. Ltd.’s holdings in Eastman Chemical were worth $4,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of the business. James J. Burns & Company LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter valued at about $741,000. Goelzer Investment Management Inc. purchased a new stake in shares of Eastman Chemical during the 4th quarter valued at about $3,319,000. National Bank of Canada FI boosted its holdings in shares of Eastman Chemical by 492.9% during the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after acquiring an additional 177,207 shares during the last quarter. KBC Group NV boosted its holdings in shares of Eastman Chemical by 21.8% during the 3rd quarter. KBC Group NV now owns 110,610 shares of the basic materials company’s stock valued at $12,383,000 after acquiring an additional 19,809 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Eastman Chemical by 6.8% during the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company’s stock valued at $16,588,000 after acquiring an additional 9,447 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insider Activity at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the transaction, the senior vice president now directly owns 4,403 shares in the company, valued at $466,013.52. This trade represents a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the transaction, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.93% of the company’s stock.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $101.32 on Thursday. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a one year low of $83.72 and a one year high of $114.50. The business has a 50-day simple moving average of $94.40 and a 200-day simple moving average of $100.17. The company has a market cap of $11.74 billion, a PE ratio of 13.19, a P/E/G ratio of 1.23 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. On average, equities research analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s payout ratio is currently 43.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Royal Bank of Canada raised their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. UBS Group dropped their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Finally, Piper Sandler lifted their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price 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.