Eastman Chemical (NYSE:EMN) Position Increased by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. raised its stake in Eastman Chemical (NYSE:EMN) by 0.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 60,082 shares of the basic materials company’s stock after acquiring an additional 436 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eastman Chemical were worth $5,487,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EMN. Private Trust Co. NA raised its holdings in Eastman Chemical by 14.0% during the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. raised its stake in shares of Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock valued at $503,000 after acquiring an additional 116 shares in the last quarter. Picton Mahoney Asset Management lifted its holdings in 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 purchasing an additional 124 shares during the last quarter. Caprock Group LLC boosted its position in Eastman Chemical by 4.2% during the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 128 shares during the period. Finally, Global Retirement Partners LLC grew its holdings in Eastman Chemical by 1.4% during the fourth quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock valued at $846,000 after purchasing an additional 132 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.0 %

Shares of EMN stock opened at $88.12 on Wednesday. Eastman Chemical has a one year low of $85.84 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The stock has a fifty day moving average price of $95.43 and a 200 day moving average price of $99.19. The stock has a market cap of $10.15 billion, a P/E ratio of 11.47, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43.

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

Eastman Chemical Announces Dividend

The business 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 3.77%. Eastman Chemical’s payout ratio is presently 43.23%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on EMN. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. UBS Group decreased their price target 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. KeyCorp lifted their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Royal Bank of Canada increased their target price on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 4th. Finally, Piper Sandler lifted their price target on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a research report on Thursday, February 13th. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock currently 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.