OMERS ADMINISTRATION Corp Has $453,000 Holdings in Eastman Chemical (NYSE:EMN)

OMERS ADMINISTRATION Corp trimmed its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 40.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,961 shares of the basic materials company's stock after selling 3,375 shares during the period. OMERS ADMINISTRATION Corp's holdings in Eastman Chemical were worth $453,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. James J. Burns & Company LLC acquired a new position in Eastman Chemical during the 4th quarter worth $741,000. Goelzer Investment Management Inc. acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $3,319,000. Dakota Wealth Management boosted its holdings in Eastman Chemical by 14.6% in the fourth quarter. Dakota Wealth Management now owns 44,675 shares of the basic materials company's stock valued at $4,081,000 after acquiring an additional 5,700 shares during the last quarter. Olstein Capital Management L.P. boosted its holdings in 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 acquiring an additional 9,279 shares during the last quarter. Finally, Barclays PLC increased its position in Eastman Chemical by 3.5% in the third quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock worth $35,268,000 after purchasing an additional 10,695 shares during the period. 83.65% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

EMN has been the topic of several recent research reports. Wells Fargo & Company reduced their target price on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Morgan Stanley cut their price objective on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. The Goldman Sachs Group lowered their target price on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 price target (down previously from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Finally, KeyCorp reduced their price target on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Six equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, Eastman Chemical has an average rating of "Moderate Buy" and a consensus target price of $99.15.

Eastman Chemical Trading Down 0.1%

NYSE:EMN traded down $0.07 on Thursday, reaching $81.41. The company's stock had a trading volume of 1,200,902 shares, compared to its average volume of 1,082,307. Eastman Chemical has a 1-year low of $70.90 and a 1-year high of $114.50. The business's 50-day moving average price is $81.07 and its two-hundred day moving average price is $91.55. The firm has a market cap of $9.40 billion, a PE ratio of 10.60, a PEG 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 quarterly earnings data 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 business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same period in the previous year, the firm earned $1.61 EPS. Eastman Chemical's quarterly revenue was down .9% compared to the same quarter last year. Equities research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be issued a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.08%. Eastman Chemical's payout ratio is 42.24%.

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.