Caisse DE Depot ET Placement DU Quebec Boosts Holdings in Eastman Chemical (NYSE:EMN)

Caisse DE Depot ET Placement DU Quebec increased its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 18.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 111,130 shares of the basic materials company's stock after acquiring an additional 17,130 shares during the quarter. Caisse DE Depot ET Placement DU Quebec owned approximately 0.10% of Eastman Chemical worth $10,148,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of EMN. Raymond James Financial Inc. acquired a new position in shares of Eastman Chemical in the fourth quarter valued at approximately $150,537,000. Capital World Investors purchased a new position in Eastman Chemical in the 4th quarter valued at $137,848,000. Norges Bank acquired a new position in Eastman Chemical in the 4th quarter valued at $137,416,000. Wealthfront Advisers LLC raised 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 during the last quarter. Finally, Capital Research Global Investors lifted its stake in shares of Eastman Chemical by 13.4% in 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 acquiring an additional 697,388 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock traded down $0.05 during trading on Tuesday, hitting $76.17. 966,968 shares of the company were exchanged, compared to its average volume of 1,048,557. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a 50 day moving average price of $84.24 and a 200 day moving average price of $93.37. The stock has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.92, a P/E/G ratio of 1.22 and a beta of 1.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. The company had revenue of $2.29 billion during 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%. The business's revenue for the quarter was down .9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.61 earnings per share. On average, equities analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be issued a dividend of $0.83 per share. The ex-dividend date is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.36%. Eastman Chemical's dividend payout ratio (DPR) is presently 42.24%.

Analysts Set New Price Targets

EMN has been the subject of several analyst reports. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price target for the company in a report on Wednesday, April 9th. UBS Group cut their target price on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a research note on Monday, April 7th. Morgan Stanley decreased their price target on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $76.00 price objective (down previously from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Finally, KeyCorp lowered their price target on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $99.15.

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.