Natixis Advisors L.P. Grows Stake in Eastman Chemical (NYSE:EMN)

Natixis Advisors L.P. raised its stake in shares of Eastman Chemical (NYSE:EMN) by 39.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 309,513 shares of the basic materials company’s stock after purchasing an additional 86,933 shares during the period. Natixis Advisors L.P. owned 0.26% of Eastman Chemical worth $27,800,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. First Command Advisory Services Inc. purchased a new position in shares of Eastman Chemical during the 3rd quarter worth about $26,000. Turtle Creek Wealth Advisors LLC bought a new stake in Eastman Chemical in the fourth quarter worth about $26,000. Sound Income Strategies LLC boosted its position in shares of Eastman Chemical by 213.8% during the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock valued at $37,000 after buying an additional 278 shares during the period. Bruce G. Allen Investments LLC bought a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $38,000. Finally, Orion Capital Management LLC purchased a new stake in shares of Eastman Chemical in the third quarter worth approximately $40,000. 83.65% of the stock is owned by institutional investors.

Insider Transactions at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 1.93% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Jefferies Financial Group raised Eastman Chemical from a “hold” rating to a “buy” rating and increased their price objective for the stock from $102.00 to $125.00 in a research note on Monday, April 29th. Wells Fargo & Company raised their price target on Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research note on Thursday, April 11th. Piper Sandler lifted their price objective on Eastman Chemical from $90.00 to $105.00 and gave the company a “neutral” rating in a report on Tuesday, April 30th. Redburn Atlantic initiated coverage on shares of Eastman Chemical in a report on Thursday, February 15th. They set a “buy” rating and a $110.00 target price on the stock. Finally, KeyCorp boosted their price target on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $103.12.

Eastman Chemical Trading Up 1.6 %

NYSE EMN opened at $97.50 on Friday. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.39 and a quick ratio of 0.70. The company has a market capitalization of $11.47 billion, a PE ratio of 12.56, a P/E/G ratio of 1.06 and a beta of 1.54. The company has a fifty day moving average of $95.01 and a 200 day moving average of $87.26.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The company had revenue of $2.31 billion during the quarter, compared to the consensus estimate of $2.29 billion. During the same period in the previous year, the company posted $1.63 earnings per share. Eastman Chemical’s revenue for the quarter was down 4.2% on a year-over-year basis. Research analysts forecast that Eastman Chemical will post 7.75 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Monday, June 17th will be given a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.32%. The ex-dividend date is Monday, June 17th. Eastman Chemical’s dividend payout ratio (DPR) is presently 41.75%.

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.