131,357 Shares in Eastman Chemical (NYSE:EMN) Acquired by Universal Beteiligungs und Servicegesellschaft mbH

Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 131,357 shares of the basic materials company's stock, valued at approximately $11,996,000. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.11% of Eastman Chemical at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. James J. Burns & Company LLC acquired a new stake in shares of Eastman Chemical during the 4th quarter worth approximately $741,000. Barclays PLC boosted its stake in Eastman Chemical by 3.5% during the third quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock worth $35,268,000 after acquiring an additional 10,695 shares in the last quarter. U.S. Capital Wealth Advisors LLC grew its holdings in Eastman Chemical by 4.3% in the fourth quarter. U.S. Capital Wealth Advisors LLC now owns 3,919 shares of the basic materials company's stock worth $358,000 after purchasing an additional 162 shares during the period. Caprock Group LLC increased its stake in Eastman Chemical by 4.2% in the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock valued at $295,000 after purchasing an additional 128 shares in the last quarter. Finally, Empowered Funds LLC raised its holdings in shares of Eastman Chemical by 24.4% during the fourth quarter. Empowered Funds LLC now owns 17,379 shares of the basic materials company's stock valued at $1,587,000 after purchasing an additional 3,412 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EMN. Wall Street Zen downgraded Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday, April 28th. Piper Sandler cut their price target on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Barclays decreased their price objective on Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Royal Bank of Canada raised 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. Finally, 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 report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and an average price target of $98.54.

Eastman Chemical Stock Performance

Shares of NYSE EMN traded up $0.44 during midday trading on Wednesday, reaching $80.90. The company's stock had a trading volume of 1,590,187 shares, compared to its average volume of 1,153,770. The stock has a market capitalization of $9.34 billion, a P/E ratio of 10.53, 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 firm has a 50 day moving average price of $79.25 and a 200-day moving average price of $90.11. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50.

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

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be given 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 4.10%. Eastman Chemical's dividend payout ratio is presently 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.