Eastman Chemical (NYSE:EMN) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC raised its position in Eastman Chemical (NYSE:EMN - Free Report) by 2.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 249,867 shares of the basic materials company's stock after purchasing an additional 5,933 shares during the period. Nuveen Asset Management LLC owned 0.22% of Eastman Chemical worth $22,818,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $27,000. Picton Mahoney Asset Management increased its position in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 124 shares during the last quarter. Assetmark Inc. increased its position in shares of 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 purchasing an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $35,000. Finally, Stonebridge Financial Group LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $37,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

Shares of EMN stock traded up $0.59 during mid-day trading on Thursday, hitting $81.56. The stock had a trading volume of 233,865 shares, compared to its average volume of 1,307,424. Eastman Chemical has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The firm has a market cap of $9.42 billion, a PE ratio of 10.62, a PEG ratio of 1.22 and a beta of 1.29. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The company's 50-day simple moving average is $80.15 and its 200-day simple moving average is $90.84.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced 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. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. During the same quarter last year, the business earned $1.61 earnings per share. The business's revenue for the quarter was down .9% compared to the same quarter last year. Sell-side analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

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 issued a dividend of $0.83 per share. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a yield of 4.07%. Eastman Chemical's dividend payout ratio (DPR) is currently 42.24%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on EMN shares. The Goldman Sachs Group dropped their price objective on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock 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 target price on the stock in a research report on Wednesday, April 9th. Wall Street Zen downgraded shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Piper Sandler dropped their target price on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research report on Monday, April 7th. Finally, UBS Group dropped their target price on shares of Eastman Chemical from $111.00 to $107.00 and set a "buy" rating on the stock in a research report on Wednesday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $98.54.

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.