Guggenheim Capital LLC Has $24.26 Million Position in Eastman Chemical (NYSE:EMN)

Guggenheim Capital LLC decreased its holdings in Eastman Chemical (NYSE:EMN - Free Report) by 1.9% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 265,602 shares of the basic materials company's stock after selling 5,208 shares during the quarter. Guggenheim Capital LLC owned 0.23% of Eastman Chemical worth $24,255,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Canada Post Corp Registered Pension Plan acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at $2,312,000. Icon Advisers Inc. Co. grew its position in Eastman Chemical by 37.5% in the fourth quarter. Icon Advisers Inc. Co. now owns 54,675 shares of the basic materials company's stock worth $4,993,000 after buying an additional 14,900 shares during the last quarter. CreativeOne Wealth LLC boosted its stake in shares of Eastman Chemical by 81.7% during the 4th quarter. CreativeOne Wealth LLC now owns 3,555 shares of the basic materials company's stock worth $325,000 after acquiring an additional 1,599 shares in the last quarter. Mariner LLC grew its holdings in shares of Eastman Chemical by 9.9% in the 4th quarter. Mariner LLC now owns 25,441 shares of the basic materials company's stock worth $2,323,000 after acquiring an additional 2,288 shares during the last quarter. Finally, Barclays PLC raised its position in shares of Eastman Chemical by 74.5% during the fourth quarter. Barclays PLC now owns 549,769 shares of the basic materials company's stock worth $50,203,000 after purchasing an additional 234,725 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 0.2 %

NYSE:EMN traded down $0.18 during trading hours on Friday, reaching $76.61. The company's stock had a trading volume of 1,628,810 shares, compared to its average volume of 1,021,936. The business's 50-day moving average is $89.72 and its 200-day moving average is $96.05. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. Eastman Chemical has a one year low of $70.90 and a one year high of $114.50. The company has a market cap of $8.82 billion, a price-to-earnings ratio of 9.98, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Equities research analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.33%. The ex-dividend date of this dividend was Friday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is currently 43.23%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. Wells Fargo & Company reduced their price target on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating for the company in a research report on Wednesday, April 9th. JPMorgan Chase & Co. increased their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an "overweight" rating in a report on Monday, February 3rd. Barclays dropped their price target on Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. Finally, Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price target for the company in a report on Thursday, April 3rd. Three research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $107.08.

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.