Ontario Teachers Pension Plan Board Buys 8,062 Shares of Eastman Chemical (NYSE:EMN)

Ontario Teachers Pension Plan Board raised its stake in Eastman Chemical (NYSE:EMN - Free Report) by 31.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,051 shares of the basic materials company's stock after buying an additional 8,062 shares during the quarter. Ontario Teachers Pension Plan Board's holdings in Eastman Chemical were worth $3,110,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analysts Set New Price Targets

EMN has been the subject of a number of research analyst reports. Bank of America raised shares of Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their target price for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, January 18th. UBS Group lowered their price objective on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price target for the company from $105.00 to $101.00 in a research report on Friday, April 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a research note on Monday, February 3rd. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $107.08.

Eastman Chemical Stock Down 0.2 %

Eastman Chemical stock traded down $0.18 during mid-day trading on Friday, reaching $76.61. The stock had a trading volume of 1,628,810 shares, compared to its average volume of 1,021,936. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The stock's 50-day simple moving average is $89.72 and its 200-day simple moving average is $96.05. The firm has a market capitalization of $8.82 billion, a PE ratio of 9.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. On average, sell-side analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Stockholders of record on Friday, March 14th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is presently 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.