Citigroup Inc. Has $14.04 Million Position in Eastman Chemical Company (NYSE:EMN)

Citigroup Inc. boosted its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 59.2% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 159,346 shares of the basic materials company's stock after buying an additional 59,226 shares during the quarter. Citigroup Inc. owned approximately 0.14% of Eastman Chemical worth $14,040,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Y.D. More Investments Ltd increased its position in Eastman Chemical by 15.0% in the first quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company's stock worth $92,000 after purchasing an additional 136 shares during the period. Beverly Hills Private Wealth LLC boosted its stake in shares of Eastman Chemical by 4.5% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company's stock valued at $291,000 after purchasing an additional 143 shares during the last quarter. Prudent Man Advisors LLC grew its position in shares of Eastman Chemical by 2.2% during the 1st quarter. Prudent Man Advisors LLC now owns 6,651 shares of the basic materials company's stock worth $586,000 after buying an additional 144 shares during the period. Burney Co. raised its stake in shares of Eastman Chemical by 0.9% during the first quarter. Burney Co. now owns 18,083 shares of the basic materials company's stock worth $1,593,000 after buying an additional 154 shares during the last quarter. Finally, Roman Butler Fullerton & Co. lifted its holdings in Eastman Chemical by 6.1% in the first quarter. Roman Butler Fullerton & Co. now owns 2,864 shares of the basic materials company's stock valued at $252,000 after buying an additional 164 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

Shares of EMN opened at $66.45 on Friday. The firm has a market cap of $7.63 billion, a P/E ratio of 9.33, a PEG ratio of 6.21 and a beta of 1.21. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The firm's 50 day moving average price is $74.54 and its two-hundred day moving average price is $82.71.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.12). The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.15 earnings per share. On average, analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be issued a $0.83 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.0%. Eastman Chemical's dividend payout ratio (DPR) is 46.63%.

Wall Street Analyst Weigh In

A number of research firms have commented on EMN. Wall Street Zen lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday, April 28th. Barclays decreased their price objective on Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Royal Bank Of Canada cut their target price on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. Morgan Stanley decreased their target price on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. Finally, Citigroup lowered their price target on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, August 4th. 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, Eastman Chemical presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

About Eastman Chemical

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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