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

Janus Henderson Group PLC raised its position in Eastman Chemical (NYSE:EMN - Free Report) by 98.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor 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 filing with the SEC.

Other large investors have also recently bought and sold shares of the company. James J. Burns & Company LLC bought a new stake in Eastman Chemical in the fourth quarter valued at approximately $741,000. Goelzer Investment Management Inc. bought a new stake in Eastman Chemical in the fourth quarter valued at approximately $3,319,000. Dakota Wealth Management increased its stake 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 purchasing an additional 5,700 shares in the last quarter. Olstein Capital Management L.P. increased its stake 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 purchasing an additional 9,279 shares in the last quarter. Finally, Barclays PLC increased its stake in Eastman Chemical by 3.5% in the third quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock valued at $35,268,000 after purchasing an additional 10,695 shares in the last quarter. Institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the stock. KeyCorp lowered their target price on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 price objective (down previously from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Royal Bank of Canada raised 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 report on Wednesday, April 9th. Mizuho raised shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a research report on Thursday, April 3rd. Finally, Piper Sandler lowered their price objective on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a research report on Monday, April 7th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.15.

Eastman Chemical Stock Down 0.9%

EMN traded down $0.77 during trading hours on Friday, hitting $80.59. 1,056,459 shares of the company's stock were exchanged, compared to its average volume of 1,086,365. Eastman Chemical has a 1-year low of $70.90 and a 1-year high of $114.50. The stock's 50-day moving average is $80.66 and its two-hundred day moving average is $91.28. The stock has a market cap 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 company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, April 24th. The basic materials company reported $1.91 EPS for the quarter, topping the consensus estimate of $1.89 by $0.02. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter in the prior year, the company posted $1.61 earnings per share. The firm's revenue was down .9% on a year-over-year basis. Sell-side analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

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