Eukles Asset Management trimmed its holdings in shares of Eastman Chemical (NYSE:EMN) by 0.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 22,521 shares of the basic materials company’s stock after selling 162 shares during the period. Eastman Chemical accounts for about 1.5% of Eukles Asset Management’s investment portfolio, making the stock its 28th biggest holding. Eukles Asset Management’s holdings in Eastman Chemical were worth $1,785,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Dupont Capital Management Corp boosted its holdings in shares of Eastman Chemical by 14.7% in the third quarter. Dupont Capital Management Corp now owns 45,316 shares of the basic materials company’s stock valued at $3,346,000 after buying an additional 5,821 shares during the period. Eaton Vance Management boosted its holdings in shares of Eastman Chemical by 4.4% in the second quarter. Eaton Vance Management now owns 27,127 shares of the basic materials company’s stock valued at $2,111,000 after buying an additional 1,142 shares during the period. Nuveen Asset Management LLC boosted its holdings in shares of Eastman Chemical by 2,295.3% in the second quarter. Nuveen Asset Management LLC now owns 334,386 shares of the basic materials company’s stock valued at $26,026,000 after buying an additional 320,426 shares during the period. Squarepoint Ops LLC boosted its holdings in shares of Eastman Chemical by 49.1% in the third quarter. Squarepoint Ops LLC now owns 158,376 shares of the basic materials company’s stock valued at $11,693,000 after buying an additional 52,190 shares during the period. Finally, DNB Asset Management AS boosted its holdings in shares of Eastman Chemical by 18.5% in the third quarter. DNB Asset Management AS now owns 28,374 shares of the basic materials company’s stock valued at $2,095,000 after buying an additional 4,430 shares during the period. 79.68% of the stock is owned by institutional investors and hedge funds.

Several research analysts have recently weighed in on the stock. ValuEngine upgraded shares of Eastman Chemical from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd. UBS Group set a $89.00 price target on shares of Eastman Chemical and gave the company a “buy” rating in a report on Friday, October 25th. SunTrust Banks upped their price target on shares of Eastman Chemical to $80.00 and gave the company a “hold” rating in a report on Tuesday, October 29th. They noted that the move was a valuation call. Bank of America assumed coverage on shares of Eastman Chemical in a report on Thursday, September 26th. They issued a “buy” rating and a $84.00 price target for the company. Finally, Royal Bank of Canada reiterated a “hold” rating and issued a $80.00 price target on shares of Eastman Chemical in a report on Sunday, December 22nd. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Eastman Chemical has a consensus rating of “Hold” and an average price target of $82.83.

EMN traded down $1.02 during trading hours on Friday, hitting $73.04. 5,613 shares of the company’s stock were exchanged, compared to its average volume of 849,209. Eastman Chemical has a 1-year low of $61.22 and a 1-year high of $86.18. The stock’s 50-day moving average is $77.34 and its two-hundred day moving average is $74.47. The stock has a market cap of $10.00 billion, a price-to-earnings ratio of 13.29, a PEG ratio of 1.42 and a beta of 1.38. The company has a quick ratio of 0.84, a current ratio of 1.65 and a debt-to-equity ratio of 0.91.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, October 24th. The basic materials company reported $1.94 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $1.98 by ($0.04). Eastman Chemical had a return on equity of 16.58% and a net margin of 8.12%. The business had revenue of $2.33 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same quarter in the previous year, the company posted $2.34 EPS. The business’s revenue for the quarter was down 8.7% compared to the same quarter last year. On average, equities research analysts anticipate that Eastman Chemical will post 7.04 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Investors of record on Monday, December 16th were issued a dividend of $0.66 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.62. The ex-dividend date was Friday, December 13th. This represents a $2.64 annualized dividend and a yield of 3.61%. Eastman Chemical’s dividend payout ratio is presently 32.20%.

Eastman Chemical Company Profile

Eastman Chemical Company operates as an advanced materials and specialty additives company worldwide. The company's Additives & Functional Products segment offers specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and anti-degradant rubber additives; performance resins; amine derivative-based building blocks; heat transfer and aviation fluids; organic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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