iA Global Asset Management Inc. Purchases 2,279 Shares of Eastman Chemical (NYSE:EMN)

iA Global Asset Management Inc. grew its stake in shares of Eastman Chemical (NYSE:EMN) by 42.0% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 7,708 shares of the basic materials company’s stock after acquiring an additional 2,279 shares during the period. iA Global Asset Management Inc.’s holdings in Eastman Chemical were worth $704,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of EMN. Quest Partners LLC bought a new position in shares of Eastman Chemical during the 3rd quarter valued at approximately $154,000. Pathstone Holdings LLC grew its position in shares of Eastman Chemical by 2.2% during the 3rd quarter. Pathstone Holdings LLC now owns 16,483 shares of the basic materials company’s stock valued at $1,846,000 after acquiring an additional 348 shares during the period. Caprock Group LLC grew its position in shares of Eastman Chemical by 33.5% during the 3rd quarter. Caprock Group LLC now owns 3,068 shares of the basic materials company’s stock valued at $346,000 after acquiring an additional 770 shares during the period. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Eastman Chemical during the 3rd quarter valued at approximately $314,000. Finally, Advisors Asset Management Inc. grew its position in shares of Eastman Chemical by 17.4% during the 3rd quarter. Advisors Asset Management Inc. now owns 17,996 shares of the basic materials company’s stock valued at $2,015,000 after acquiring an additional 2,665 shares during the period. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

NYSE EMN opened at $88.55 on Friday. Eastman Chemical has a 1 year low of $86.70 and a 1 year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The stock has a market capitalization of $10.20 billion, a PE ratio of 11.53, a P/E/G ratio of 1.22 and a beta of 1.43. The company’s 50 day simple moving average is $95.92 and its two-hundred day simple moving average is $99.69.

Eastman Chemical (NYSE:EMN) last posted its earnings results 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 net margin of 9.65% and a return on equity of 16.27%. Analysts predict that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.75%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of research reports. KeyCorp increased their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Royal Bank of Canada upped their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 4th. Barclays dropped their price target on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $110.00 to $125.00 in a research note on Tuesday, November 26th. Six analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

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.