Electron Capital Partners LLC Has $27.97 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

Electron Capital Partners LLC trimmed its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 3.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 306,286 shares of the basic materials company's stock after selling 9,324 shares during the quarter. Eastman Chemical accounts for 1.5% of Electron Capital Partners LLC's portfolio, making the stock its 18th largest holding. Electron Capital Partners LLC owned approximately 0.26% of Eastman Chemical worth $27,970,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of EMN. Capital Research Global Investors grew its holdings 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 purchasing an additional 697,388 shares during the last quarter. Franklin Resources Inc. boosted its stake in shares of Eastman Chemical by 10.8% in the 4th quarter. Franklin Resources Inc. now owns 5,785,259 shares of the basic materials company's stock valued at $528,310,000 after purchasing an additional 565,821 shares during the last quarter. Invesco Ltd. grew its holdings in Eastman Chemical by 11.1% during the 4th quarter. Invesco Ltd. now owns 2,844,165 shares of the basic materials company's stock worth $259,729,000 after acquiring an additional 284,271 shares during the period. Massachusetts Financial Services Co. MA boosted its position in shares of Eastman Chemical by 4.0% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,843,506 shares of the basic materials company's stock worth $259,669,000 after purchasing an additional 109,316 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Eastman Chemical by 1.7% during the fourth quarter. Geode Capital Management LLC now owns 2,832,593 shares of the basic materials company's stock worth $257,986,000 after purchasing an additional 48,491 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Up 2.3 %

EMN traded up $1.76 during trading on Friday, reaching $77.98. 1,546,232 shares of the stock were exchanged, compared to its average volume of 1,045,851. The stock's 50 day moving average price is $85.09 and its two-hundred day moving average price is $93.94. Eastman Chemical has a twelve month low of $70.90 and a twelve month high of $114.50. The stock has a market cap of $9.00 billion, a P/E ratio of 10.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. 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 (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. During the same period last year, the business posted $1.61 EPS. Eastman Chemical's revenue was down .9% on a year-over-year basis. Equities analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.26%. The ex-dividend date is Friday, June 13th. Eastman Chemical's dividend payout ratio is 42.24%.

Analysts Set New Price Targets

EMN has been the topic of a number of recent analyst reports. Mizuho upgraded Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a report on Thursday, April 3rd. StockNews.com lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday. Morgan Stanley cut their price objective on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday. The Goldman Sachs Group dropped their target price on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a report on Monday. Finally, Wells Fargo & Company reduced their price target on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating for the company in a report on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average 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.