Natixis Advisors LLC Cuts Position in Eastman Chemical (NYSE:EMN)

Natixis Advisors LLC trimmed its holdings in shares of Eastman Chemical (NYSE:EMN) by 5.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 292,648 shares of the basic materials company’s stock after selling 16,475 shares during the quarter. Natixis Advisors LLC owned 0.25% of Eastman Chemical worth $26,725,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Crews Bank & Trust bought a new position in Eastman Chemical in the 4th quarter valued at $27,000. Picton Mahoney Asset Management boosted its holdings in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after buying an additional 124 shares during the last quarter. Assetmark Inc. increased its holdings 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 buying an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in Eastman Chemical in the fourth quarter worth about $35,000. Finally, Dunhill Financial LLC boosted its stake in Eastman Chemical by 94.7% in 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 last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EMN has been the topic of a number of research reports. Barclays lowered their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock 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. UBS Group lowered their target price 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. Mizuho lifted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a “neutral” rating in a research report on Tuesday, November 26th. Finally, Wells Fargo & Company raised Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Stock Up 0.2 %

EMN stock opened at $91.23 on Tuesday. Eastman Chemical has a 1-year low of $86.70 and a 1-year high of $114.50. The stock has a market cap of $10.51 billion, a price-to-earnings ratio of 11.88, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. 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’s 50 day moving average is $95.74 and its 200 day moving average is $100.00.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating 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%. Sell-side analysts predict that Eastman Chemical will post 8.55 EPS 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. Stockholders of record on Friday, March 14th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.64%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Eastman Chemical 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.