Assetmark Inc. Acquires 296 Shares of Eastman Chemical (NYSE:EMN)

Assetmark Inc. lifted its holdings in shares of Eastman Chemical (NYSE:EMN) by 384.4% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 373 shares of the basic materials company’s stock after acquiring an additional 296 shares during the quarter. Assetmark Inc.’s holdings in Eastman Chemical were worth $34,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the 4th quarter worth approximately $27,000. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the 4th quarter worth approximately $35,000. Dunhill Financial LLC lifted its holdings in Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the last quarter. Stonebridge Financial Group LLC acquired a new stake in Eastman Chemical during the 4th quarter worth approximately $37,000. Finally, Proficio Capital Partners LLC acquired a new stake in Eastman Chemical during the 4th quarter worth approximately $75,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Up 0.5 %

NYSE EMN opened at $91.03 on Friday. The business has a 50 day simple moving average of $95.69 and a 200 day simple moving average of $100.07. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50. The stock has a market capitalization of $10.48 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN) last released its 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 16.27% and a net margin of 9.65%. Research analysts expect that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.65%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Analysts Set New Price Targets

EMN has been the subject of several research reports. Barclays dropped their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. Mizuho lifted their price objective on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a report on Tuesday, November 26th. UBS Group lowered their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. KeyCorp boosted their price target on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Finally, Royal Bank of Canada boosted their price target on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a report on Tuesday, February 4th. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus target price of $114.08.

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.