BI Asset Management Fondsmaeglerselskab A S Has $626,000 Stock Position in Eastman Chemical (NYSE:EMN)

BI Asset Management Fondsmaeglerselskab A S increased its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 146.9% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 6,854 shares of the basic materials company's stock after buying an additional 4,078 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Eastman Chemical were worth $626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Raymond James Financial Inc. bought a new position in shares of Eastman Chemical during the 4th quarter worth approximately $150,537,000. Capital World Investors bought a new position in Eastman Chemical in the fourth quarter valued at $137,848,000. Norges Bank acquired a new stake in Eastman Chemical in the 4th quarter valued at $137,416,000. Wealthfront Advisers LLC lifted its position in Eastman Chemical by 3,136.8% during the 4th quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company's stock worth $67,213,000 after buying an additional 713,272 shares in the last quarter. Finally, Capital Research Global Investors boosted its stake in shares of Eastman Chemical by 13.4% during the 4th quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company's stock worth $537,561,000 after buying an additional 697,388 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on EMN shares. StockNews.com lowered Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price objective for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Barclays dropped their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday. Citigroup upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $105.00 to $101.00 in a research note on Friday, April 4th. Finally, The Goldman Sachs Group reduced their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a report on Monday. Six equities research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and an average price target of $101.00.

Eastman Chemical Stock Performance

Shares of EMN traded up $0.56 during mid-day trading on Tuesday, hitting $76.27. 388,851 shares of the company's stock were exchanged, compared to its average volume of 1,034,894. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 52 week low of $70.90 and a 52 week high of $114.50. The stock's 50-day simple moving average is $86.87 and its 200-day simple moving average is $94.64. The firm has a market cap of $8.78 billion, a price-to-earnings ratio of 9.94, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.35 billion. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Eastman Chemical's revenue was down .9% on a year-over-year basis. During the same quarter last year, the business earned $1.61 earnings per share. On average, equities research analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 4.35%. Eastman Chemical's dividend payout ratio is 42.24%.

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.