Eastman Chemical (NYSE:EMN) Shares Acquired by Brown Brothers Harriman & Co.

Brown Brothers Harriman & Co. increased its position in shares of Eastman Chemical (NYSE:EMN) by 135.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 528 shares of the basic materials company’s stock after acquiring an additional 304 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in Eastman Chemical were worth $48,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of EMN. Crews Bank & Trust acquired a new position in shares of Eastman Chemical in the 4th quarter worth approximately $27,000. Picton Mahoney Asset Management grew its position in Eastman Chemical by 62.3% in the fourth 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 shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after buying an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new stake in shares of Eastman Chemical during the 4th quarter valued at $35,000. Finally, Dunhill Financial LLC boosted its stake in shares of 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 acquiring an additional 162 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have recently commented on EMN. JPMorgan Chase & Co. upped their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Barclays decreased their target price on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, January 18th. Royal Bank of Canada lifted their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 4th. Finally, Bank of America upgraded 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. Six research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $88.35 on Thursday. The firm has a market cap of $10.18 billion, a price-to-earnings ratio of 11.50, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 1 year low of $85.84 and a 1 year high of $114.50. 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 business has a fifty day simple moving average of $95.36 and a 200 day simple moving average of $99.11.

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

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.76%. Eastman Chemical’s dividend payout ratio (DPR) is 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.