International Assets Investment Management LLC Makes New Investment in Eastman Chemical (NYSE:EMN)

International Assets Investment Management LLC purchased a new stake in Eastman Chemical (NYSE:EMN - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 95,658 shares of the basic materials company's stock, valued at approximately $8,592,000. International Assets Investment Management LLC owned approximately 0.08% of Eastman Chemical as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of EMN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in shares of Eastman Chemical by 2.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,261 shares of the basic materials company's stock worth $1,934,000 after acquiring an additional 386 shares in the last quarter. Yousif Capital Management LLC raised its stake in shares of Eastman Chemical by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company's stock worth $2,087,000 after acquiring an additional 150 shares in the last quarter. Cibc World Market Inc. raised its stake in shares of Eastman Chemical by 10.4% during the 1st quarter. Cibc World Market Inc. now owns 6,098 shares of the basic materials company's stock worth $683,000 after acquiring an additional 572 shares in the last quarter. Blair William & Co. IL raised its stake in shares of Eastman Chemical by 2.5% during the 1st quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company's stock worth $491,000 after acquiring an additional 105 shares in the last quarter. Finally, Sei Investments Co. raised its stake in shares of Eastman Chemical by 16.4% during the 1st quarter. Sei Investments Co. now owns 200,656 shares of the basic materials company's stock worth $22,546,000 after acquiring an additional 28,338 shares in the last quarter. Institutional investors own 83.65% of the company's stock.

Insider Activity

In other news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction dated Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 1.93% of the company's stock.

Analyst Ratings Changes

Several research analysts recently commented on EMN shares. KeyCorp boosted their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an "overweight" rating in a research note on Tuesday, April 9th. Redburn Atlantic initiated coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They set a "buy" rating and a $110.00 price target on the stock. Wells Fargo & Company upped their price target on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an "equal weight" rating in a research note on Thursday. Citigroup upped their price target on shares of Eastman Chemical from $95.00 to $114.00 and gave the company a "buy" rating in a research note on Wednesday. Finally, Stifel Nicolaus cut their price target on shares of Eastman Chemical from $102.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Seven analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of "Moderate Buy" and an average target price of $97.13.

Eastman Chemical Stock Performance

NYSE EMN traded down $2.04 during mid-day trading on Friday, reaching $97.98. 842,459 shares of the stock were exchanged, compared to its average volume of 1,088,355. The business's 50 day moving average is $91.34 and its 200-day moving average is $85.04. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The company has a market capitalization of $11.52 billion, a P/E ratio of 13.08, a P/E/G ratio of 1.08 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, topping analysts' consensus estimates of $1.28 by $0.03. The company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.21 billion. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm's revenue for the quarter was down 7.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.89 earnings per share. On average, equities research analysts forecast that Eastman Chemical will post 7.7 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.31%. The ex-dividend date was Thursday, March 14th. Eastman Chemical's dividend payout ratio (DPR) is 43.26%.

Eastman Chemical 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.