Mercer Global Advisors Inc. ADV Has $2.78 Million Position in Eastman Chemical (NYSE:EMN)

Mercer Global Advisors Inc. ADV trimmed its holdings in shares of Eastman Chemical (NYSE:EMN - Free Report) by 55.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,454 shares of the basic materials company's stock after selling 37,205 shares during the period. Mercer Global Advisors Inc. ADV's holdings in Eastman Chemical were worth $2,781,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Crews Bank & Trust acquired a new position in shares of Eastman Chemical during the 4th quarter valued at about $27,000. Picton Mahoney Asset Management grew its stake in shares of Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after buying an additional 124 shares during the period. Assetmark Inc. raised 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 worth $34,000 after buying an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the fourth quarter worth about $35,000. Finally, Stonebridge Financial Group LLC purchased a new position in shares of Eastman Chemical in the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Trading Up 5.9%

Shares of EMN stock traded up $4.55 on Monday, hitting $82.05. The stock had a trading volume of 356,579 shares, compared to its average volume of 1,052,300. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. Eastman Chemical has a twelve month low of $70.90 and a twelve month high of $114.50. The company has a fifty day moving average price of $83.14 and a two-hundred day moving average price of $92.64. The firm has a market cap of $9.47 billion, a P/E ratio of 10.69, a PEG ratio of 1.22 and a beta of 1.29.

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

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a yield of 4.05%. Eastman Chemical's dividend payout ratio (DPR) is currently 42.24%.

Wall Street Analysts Forecast Growth

EMN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. The Goldman Sachs Group reduced their target price on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Piper Sandler reduced their price objective on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a research note on Monday, April 7th. Bank of America upgraded Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Finally, Mizuho upgraded shares of Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective on the stock in a research note on Thursday, April 3rd. Six 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 stock currently has an average rating of "Moderate Buy" and an average price target of $99.15.

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.