Natixis Advisors L.P. Has $27.80 Million Stake in Eastman Chemical (NYSE:EMN)

Natixis Advisors L.P. increased its position in Eastman Chemical (NYSE:EMN - Free Report) by 39.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 309,513 shares of the basic materials company's stock after acquiring an additional 86,933 shares during the period. Natixis Advisors L.P. owned approximately 0.26% of Eastman Chemical worth $27,800,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth about $26,000. First Command Advisory Services Inc. acquired a new stake in shares of Eastman Chemical in the 3rd quarter worth about $26,000. Sound Income Strategies LLC increased its holdings in shares of Eastman Chemical by 213.8% in the 4th quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company's stock worth $37,000 after acquiring an additional 278 shares during the period. Bruce G. Allen Investments LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth about $38,000. Finally, WASHINGTON TRUST Co increased its stake in Eastman Chemical by 426.6% during the 4th quarter. WASHINGTON TRUST Co now owns 495 shares of the basic materials company's stock valued at $44,000 after buying an additional 401 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. Redburn Atlantic assumed coverage on shares of Eastman Chemical in a research note on Thursday, February 15th. They set a "buy" rating and a $110.00 target price on the stock. StockNews.com cut shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research note on Monday, April 29th. Jefferies Financial Group raised shares of Eastman Chemical from a "hold" rating to a "buy" rating and raised their target price for the company from $102.00 to $125.00 in a research note on Monday, April 29th. Royal Bank of Canada raised their target price on shares of Eastman Chemical from $100.00 to $104.00 and gave the company a "sector perform" rating in a research note on Tuesday, April 30th. Finally, Mizuho raised their target price on shares of Eastman Chemical from $91.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, April 26th. Eight research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus price target of $103.12.

Eastman Chemical Trading Up 1.6 %

Shares of EMN traded up $1.58 during midday trading on Friday, hitting $97.50. The stock had a trading volume of 859,678 shares, compared to its average volume of 928,148. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71. The business has a 50-day simple moving average of $95.01 and a two-hundred day simple moving average of $87.36. The firm has a market cap of $11.47 billion, a P/E ratio of 12.56, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54. The company has a current ratio of 1.39, a quick ratio of 0.70 and a debt-to-equity ratio of 0.77.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. The business had revenue of $2.31 billion during the quarter, compared to analysts' expectations of $2.29 billion. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The firm's quarterly revenue was down 4.2% compared to the same quarter last year. During the same period last year, the company posted $1.63 earnings per share. As a group, equities analysts forecast that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.32%. The ex-dividend date is Monday, June 17th. Eastman Chemical's dividend payout ratio is currently 41.75%.

Insider Buying and Selling

In related news, SVP Adrian James Holt sold 4,735 shares of the firm's stock in a transaction that occurred on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 1.93% of the stock is currently owned by corporate insiders.

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.