The Manufacturers Life Insurance Company Has $9.17 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

The Manufacturers Life Insurance Company lessened its position in Eastman Chemical (NYSE:EMN - Free Report) by 4.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 100,357 shares of the basic materials company's stock after selling 4,797 shares during the period. The Manufacturers Life Insurance Company owned about 0.09% of Eastman Chemical worth $9,165,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Crews Bank & Trust acquired a new position in Eastman Chemical during the 4th quarter worth about $27,000. Picton Mahoney Asset Management lifted its position in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after buying an additional 124 shares in the last quarter. Assetmark Inc. lifted its position in Eastman Chemical by 384.4% during 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 in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in Eastman Chemical during the 4th quarter worth about $35,000. Finally, Stonebridge Financial Group LLC acquired a new position in Eastman Chemical during the 4th quarter worth about $37,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Stock Up 0.0%

Shares of Eastman Chemical stock traded up $0.03 during trading on Friday, reaching $77.48. 1,198,109 shares of the company traded hands, compared to its average volume of 1,054,914. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. Eastman Chemical has a 1-year low of $70.90 and a 1-year high of $114.50. The company has a 50 day moving average price of $83.14 and a 200-day moving average price of $92.64. The firm has a market capitalization of $8.95 billion, a PE ratio of 10.09, a P/E/G ratio of 1.22 and a beta of 1.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last released 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 net margin of 9.65% and a return on equity of 16.27%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.35 billion. During the same quarter in the previous year, the company earned $1.61 EPS. Eastman Chemical's quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts expect that Eastman Chemical will post 8.55 earnings per share 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. Investors of record on Friday, June 13th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Friday, June 13th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.28%. Eastman Chemical's payout ratio is presently 42.24%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on EMN shares. Citigroup upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and reduced their price target for the stock from $105.00 to $101.00 in a research report on Friday, April 4th. StockNews.com cut 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 set a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Piper Sandler dropped their price objective on Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating for the company in a report on Monday, April 7th. Finally, UBS Group dropped their price objective on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating for the company in a report on Monday, April 7th. Six analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $99.15.

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.