Mirae Asset Global Investments Co. Ltd. Has $3.68 Million Stock Position in Eastman Chemical (NYSE:EMN)

Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Eastman Chemical (NYSE:EMN - Free Report) by 34.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,919 shares of the basic materials company's stock after purchasing an additional 10,399 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Eastman Chemical were worth $3,675,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of EMN. First Command Advisory Services Inc. bought a new stake in Eastman Chemical in the 3rd quarter valued at $26,000. Cornerstone Planning Group LLC bought a new stake in Eastman Chemical in the 2nd quarter valued at $33,000. Money Concepts Capital Corp increased its holdings in Eastman Chemical by 435.0% in the 4th quarter. Money Concepts Capital Corp now owns 428 shares of the basic materials company's stock valued at $35,000 after buying an additional 348 shares during the period. Sound Income Strategies LLC increased its holdings in Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company's stock valued at $37,000 after buying an additional 278 shares during the period. Finally, Point72 Asset Management L.P. bought a new stake in Eastman Chemical in the 4th quarter valued at $37,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on EMN shares. KeyCorp upped their target price on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an "overweight" rating in a report on Tuesday, April 9th. Wells Fargo & Company upped their target price on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an "equal weight" rating in a report on Thursday, April 11th. Redburn Atlantic started coverage on shares of Eastman Chemical in a report on Thursday, February 15th. They issued a "buy" rating and a $110.00 target price on the stock. UBS Group upped their target price on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a "neutral" rating in a report on Friday, February 2nd. Finally, Royal Bank of Canada lowered their target price on shares of Eastman Chemical from $91.00 to $89.00 and set a "sector perform" rating on the stock in a report on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat.com, Eastman Chemical presently has an average rating of "Moderate Buy" and an average price target of $97.13.

Eastman Chemical Trading Down 0.4 %

Eastman Chemical stock traded down $0.43 during trading hours on Wednesday, reaching $95.97. 706,057 shares of the company's stock traded hands, compared to its average volume of 1,102,593. 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 has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The firm has a market capitalization of $11.29 billion, a price-to-earnings ratio of 12.81, a PEG ratio of 1.08 and a beta of 1.54. The firm's 50 day moving average is $92.17 and its 200-day moving average is $85.40.

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

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.38%. Eastman Chemical's payout ratio is presently 43.26%.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction that occurred on 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 filing with the SEC, which can be accessed through this link. Corporate insiders own 2.28% of the company's stock.

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.