BNP Paribas Financial Markets Has $21.56 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

BNP Paribas Financial Markets increased its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 46.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 236,042 shares of the basic materials company's stock after acquiring an additional 74,575 shares during the period. BNP Paribas Financial Markets owned about 0.20% of Eastman Chemical worth $21,555,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in EMN. Crews Bank & Trust bought a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management grew its stake 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 valued at $29,000 after purchasing an additional 124 shares during the period. Assetmark Inc. increased its position in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after purchasing an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $35,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Eastman Chemical in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. KeyCorp lowered their price objective on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group dropped their price objective on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. StockNews.com downgraded Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their price target for the company from $105.00 to $101.00 in a research report on Friday, April 4th. Finally, Royal Bank of Canada raised Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $99.15.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $77.48 on Friday. Eastman Chemical has a 12 month low of $70.90 and a 12 month 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 stock has a market cap of $8.95 billion, a P/E ratio of 10.09, a P/E/G ratio of 1.22 and a beta of 1.29. The company has a 50 day moving average of $83.14 and a 200 day moving average of $92.84.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter last year, the business posted $1.61 earnings per share. The firm's revenue was down .9% compared to the same quarter last year. As a group, sell-side analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.28%. The ex-dividend date of this dividend is Friday, June 13th. Eastman Chemical's dividend payout ratio (DPR) 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.

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