DekaBank Deutsche Girozentrale Has $60.72 Million Holdings in Eastman Chemical Company (NYSE:EMN)

DekaBank Deutsche Girozentrale lifted its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 5.4% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 701,947 shares of the basic materials company's stock after purchasing an additional 35,853 shares during the period. DekaBank Deutsche Girozentrale owned 0.61% of Eastman Chemical worth $60,723,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management raised 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 buying an additional 124 shares during the period. Assetmark Inc. raised its stake in Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 296 shares during the period. Headlands Technologies LLC acquired a new stake in Eastman Chemical during the 4th quarter valued at $43,000. Orion Capital Management LLC bought a new position in Eastman Chemical during the fourth quarter worth $47,000. Finally, Brown Brothers Harriman & Co. increased its holdings in shares of Eastman Chemical by 135.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 528 shares of the basic materials company's stock valued at $48,000 after purchasing an additional 304 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

NYSE EMN traded down $1.27 during trading on Friday, hitting $80.29. 818,507 shares of the company's stock were exchanged, compared to its average volume of 1,244,236. The company has a market cap of $9.27 billion, a PE ratio of 10.22, a P/E/G ratio of 1.92 and a beta of 1.22. The company has a current ratio of 1.72, a quick ratio of 0.79 and a debt-to-equity ratio of 0.80. Eastman Chemical Company has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The stock's 50 day moving average price is $78.89 and its two-hundred day moving average price is $86.09.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, beating the consensus estimate of $1.89 by $0.02. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.35 billion. Eastman Chemical had a net margin of 9.85% and a return on equity of 16.59%. The firm's revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.61 EPS. Research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th were given a $0.83 dividend. The ex-dividend date of this dividend was Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.14%. Eastman Chemical's dividend payout ratio is presently 42.24%.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. UBS Group decreased 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. The Goldman Sachs Group reduced their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research note on Monday, April 28th. Morgan Stanley lowered their price objective on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. KeyCorp lowered their target price on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Finally, Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $98.08.

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.