Siemens Fonds Invest GmbH Buys 5,608 Shares of Eastman Chemical (NYSE:EMN)

Siemens Fonds Invest GmbH raised its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 151.3% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 9,315 shares of the basic materials company's stock after purchasing an additional 5,608 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Eastman Chemical were worth $851,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. James J. Burns & Company LLC bought a new stake in shares of Eastman Chemical during the fourth quarter worth about $741,000. Goelzer Investment Management Inc. bought a new stake in Eastman Chemical during the 4th quarter worth approximately $3,319,000. Dakota Wealth Management raised its stake in shares of Eastman Chemical by 14.6% in the fourth quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company's stock worth $4,081,000 after purchasing an additional 5,700 shares during the last quarter. Olstein Capital Management L.P. lifted its holdings in shares of Eastman Chemical by 16.1% in the fourth quarter. Olstein Capital Management L.P. now owns 66,779 shares of the basic materials company's stock valued at $6,098,000 after purchasing an additional 9,279 shares in the last quarter. Finally, Barclays PLC boosted its position in shares of Eastman Chemical by 3.5% during the third quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock valued at $35,268,000 after buying an additional 10,695 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on EMN shares. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. UBS Group lowered their target price on shares of Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. Piper Sandler cut their price target on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Royal Bank of Canada upgraded shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price objective for the company in a research note on Wednesday, April 9th. Finally, Mizuho upgraded Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 target price on the stock in a research note on Thursday, April 3rd. Six equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $99.15.

Eastman Chemical Stock Performance

Shares of NYSE:EMN traded down $0.79 during mid-day trading on Wednesday, reaching $81.56. The company had a trading volume of 1,255,397 shares, compared to its average volume of 1,081,832. Eastman Chemical has a one year low of $70.90 and a one year high of $114.50. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The company's 50-day moving average price is $81.26 and its 200-day moving average price is $91.62. The firm has a market cap of $9.42 billion, a price-to-earnings ratio of 10.62, a PEG ratio of 1.22 and a beta of 1.29.

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 return on equity of 16.27% and a net margin of 9.65%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the company posted $1.61 earnings per share. The business's revenue was down .9% on a year-over-year basis. As a group, equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th will be given a dividend of $0.83 per share. The ex-dividend date is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a yield of 4.07%. Eastman Chemical's dividend payout ratio is presently 42.24%.

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.