Janus Henderson Group PLC Has $2.33 Million Position in Eastman Chemical (NYSE:EMN)

Janus Henderson Group PLC grew its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 98.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,480 shares of the basic materials company's stock after purchasing an additional 12,612 shares during the period. Janus Henderson Group PLC's holdings in Eastman Chemical were worth $2,326,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Private Trust Co. NA boosted its position in shares of Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company's stock worth $76,000 after buying an additional 103 shares during the period. Blue Trust Inc. lifted its stake in Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company's stock worth $503,000 after acquiring an additional 116 shares in the last quarter. Picton Mahoney Asset Management boosted its position in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after acquiring an additional 124 shares during the period. Caprock Group LLC grew its stake in Eastman Chemical by 4.2% during the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock valued at $295,000 after acquiring an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in shares of Eastman Chemical by 1.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company's stock valued at $846,000 after purchasing an additional 132 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

EMN has been the subject of several research reports. Morgan Stanley decreased their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Wells Fargo & Company dropped their target price on Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a research report on Wednesday, April 9th. 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. Barclays cut their price objective on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group decreased their target price on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $99.15.

Eastman Chemical Stock Performance

Shares of NYSE:EMN traded down $0.77 during midday trading on Monday, hitting $80.59. The company's stock had a trading volume of 1,056,459 shares, compared to its average volume of 1,089,457. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a market capitalization of $9.30 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.22 and a beta of 1.29. The stock's 50 day simple moving average is $80.45 and its 200 day simple moving average is $90.96.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, beating the consensus estimate of $1.89 by $0.02. The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. During the same period in the prior year, the business earned $1.61 earnings per share. Eastman Chemical's revenue for the quarter was down .9% compared to the same quarter last year. As a group, research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th will be given a $0.83 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.12%. Eastman Chemical's dividend 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.