Eastman Chemical Company (NYSE:EMN) Shares Purchased by Deutsche Bank AG

Deutsche Bank AG increased its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 7.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 486,677 shares of the basic materials company's stock after purchasing an additional 33,218 shares during the quarter. Deutsche Bank AG owned 0.42% of Eastman Chemical worth $42,881,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Capital Research Global Investors increased its position in shares of Eastman Chemical by 13.4% during the fourth 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. Dimensional Fund Advisors LP lifted its position in Eastman Chemical by 2.0% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,385,591 shares of the basic materials company's stock valued at $217,850,000 after acquiring an additional 47,810 shares during the last quarter. Earnest Partners LLC lifted its position in Eastman Chemical by 1.6% in the fourth quarter. Earnest Partners LLC now owns 2,277,827 shares of the basic materials company's stock valued at $208,011,000 after acquiring an additional 35,793 shares during the last quarter. Capital World Investors purchased a new stake in Eastman Chemical in the fourth quarter valued at $137,848,000. Finally, Northern Trust Corp lifted its position in Eastman Chemical by 10.3% in the fourth quarter. Northern Trust Corp now owns 1,377,400 shares of the basic materials company's stock valued at $125,784,000 after acquiring an additional 128,488 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 1.2%

NYSE EMN traded down $0.79 during trading hours on Friday, reaching $65.61. 1,414,096 shares of the company traded hands, compared to its average volume of 1,572,046. Eastman Chemical Company has a 12 month low of $56.78 and a 12 month high of $114.50. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $7.53 billion, a PE ratio of 9.21, a PEG ratio of 6.21 and a beta of 1.21. The company has a 50 day moving average of $74.54 and a two-hundred day moving average of $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 analysts' consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter last year, the company earned $2.15 earnings per share. The company's revenue was down 3.2% compared to the same quarter last year. As a group, equities analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio is 46.63%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on EMN shares. Morgan Stanley reduced their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a research report on Monday, April 28th. The Goldman Sachs Group dropped their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Citigroup decreased their price target on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a report on Monday, August 4th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Finally, UBS Group dropped their price target on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Eastman Chemical Company 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.