Siemens Fonds Invest GmbH Raises Stake in Eastman Chemical (NYSE:EMN)

Siemens Fonds Invest GmbH grew its stake in Eastman Chemical (NYSE:EMN - Free Report) by 151.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 9,315 shares of the basic materials company's stock after buying an additional 5,608 shares during the quarter. Siemens Fonds Invest GmbH's holdings in Eastman Chemical were worth $851,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in EMN. Crews Bank & Trust acquired a new position in Eastman Chemical during the fourth quarter worth $27,000. Picton Mahoney Asset Management raised its position in shares of Eastman Chemical by 62.3% in the fourth 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 period. Assetmark Inc. raised its position in shares of Eastman Chemical by 384.4% in the fourth 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 period. Bradley & Co. Private Wealth Management LLC bought a new position in Eastman Chemical during the fourth quarter worth about $35,000. Finally, Stonebridge Financial Group LLC bought a new position in Eastman Chemical during the fourth quarter worth about $37,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Stock Down 3.9%

EMN traded down $3.14 during trading on Friday, hitting $78.36. 9,704,158 shares of the company's stock were exchanged, compared to its average volume of 1,137,026. The stock has a market cap of $9.05 billion, a P/E ratio of 10.20, 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 has a fifty-two week low of $70.90 and a fifty-two week high of $114.50. The business's 50 day moving average is $79.76 and its two-hundred day moving average is $90.54.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share (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 firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.35 billion. During the same quarter in the prior year, the business posted $1.61 EPS. The business's revenue was down .9% compared to the same quarter last year. As a group, equities analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be paid a $0.83 dividend. The ex-dividend date is Friday, June 13th. This represents a $3.32 annualized dividend and a dividend yield of 4.24%. Eastman Chemical's payout ratio is 42.24%.

Analyst Ratings Changes

EMN has been the topic of a number of recent research reports. Royal Bank of Canada raised shares of Eastman Chemical from a "sector perform" rating to an "outperform" rating and set a $91.00 price target on the stock in a research report on Wednesday, April 9th. JPMorgan Chase & Co. restated a "neutral" rating and issued a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. KeyCorp cut their target price on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. The Goldman Sachs Group cut their target price 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. Finally, UBS Group lowered their price target on shares of Eastman Chemical from $111.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $98.54.

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.