Fjarde AP Fonden Fourth Swedish National Pension Fund Invests $3.02 Million in Eastman Chemical (NYSE:EMN)

Fjarde AP Fonden Fourth Swedish National Pension Fund purchased a new position in shares of Eastman Chemical (NYSE:EMN) during the fourth quarter, Holdings Channel reports. The institutional investor purchased 33,100 shares of the basic materials company’s stock, valued at approximately $3,023,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMN. Allspring Global Investments Holdings LLC grew its position in shares of Eastman Chemical by 118.1% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 17,578 shares of the basic materials company’s stock worth $1,968,000 after buying an additional 9,517 shares in the last quarter. Private Advisor Group LLC grew its position in shares of Eastman Chemical by 10.4% during the 3rd quarter. Private Advisor Group LLC now owns 11,426 shares of the basic materials company’s stock worth $1,279,000 after buying an additional 1,081 shares in the last quarter. International Assets Investment Management LLC bought a new position in shares of Eastman Chemical during the 3rd quarter worth $5,163,000. Hennion & Walsh Asset Management Inc. bought a new position in shares of Eastman Chemical during the 3rd quarter worth $277,000. Finally, Mirae Asset Global Investments Co. Ltd. grew its position in shares of Eastman Chemical by 45.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 12,360 shares of the basic materials company’s stock worth $1,389,000 after buying an additional 3,866 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

EMN has been the subject of a number of analyst reports. KeyCorp upped their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $118.00 to $104.00 in a research note on Wednesday, December 18th. Barclays decreased their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Royal Bank of Canada upped their price objective on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. Finally, JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Trading Down 0.9 %

Eastman Chemical stock opened at $98.08 on Thursday. The stock has a 50-day moving average of $94.66 and a two-hundred day moving average of $100.32. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a one year low of $85.28 and a one year high of $114.50. The stock has a market cap of $11.30 billion, a PE ratio of 12.77, a price-to-earnings-growth ratio of 1.22 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.39%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

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.