Susquehanna Fundamental Investments LLC Invests $3.33 Million in Eastman Chemical (NYSE:EMN)

Susquehanna Fundamental Investments LLC purchased a new position in Eastman Chemical (NYSE:EMN - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 36,513 shares of the basic materials company's stock, valued at approximately $3,334,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Barclays PLC lifted its holdings in shares of Eastman Chemical by 3.5% in the 3rd quarter. Barclays PLC now owns 315,044 shares of the basic materials company's stock worth $35,268,000 after acquiring an additional 10,695 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in Eastman Chemical during the third quarter valued at about $656,000. Franklin Resources Inc. grew its stake in shares of Eastman Chemical by 5.7% during the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company's stock valued at $593,233,000 after buying an additional 282,458 shares during the last quarter. IMS Capital Management purchased a new position in shares of Eastman Chemical in the third quarter worth about $280,000. Finally, Principal Financial Group Inc. lifted its stake in shares of Eastman Chemical by 6.8% in the 3rd quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock valued at $16,588,000 after acquiring an additional 9,447 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on EMN. The Goldman Sachs Group decreased their price target on Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a research note on Monday, April 28th. StockNews.com lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday, April 28th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 price target (down previously from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Barclays lowered their price objective on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Finally, KeyCorp cut their target price on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $99.15.

Eastman Chemical Stock Up 2.3 %

Shares of NYSE EMN traded up $1.76 on Friday, reaching $77.98. 1,546,232 shares of the company's stock traded hands, compared to its average volume of 1,046,600. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business's 50 day simple moving average is $85.09 and its two-hundred day simple moving average is $93.83. Eastman Chemical has a 12 month low of $70.90 and a 12 month high of $114.50. The company has a market cap of $9.00 billion, a price-to-earnings ratio of 10.15, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data 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. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.35 billion. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 earnings per share. As a group, equities research analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Friday, June 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.26%. The ex-dividend date of this dividend is Friday, June 13th. Eastman Chemical's dividend payout ratio is currently 42.24%.

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.