US Bancorp DE Has $5.27 Million Stock Position in Eastman Chemical (NYSE:EMN)

US Bancorp DE lifted its holdings in shares of Eastman Chemical (NYSE:EMN) by 12.7% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 57,746 shares of the basic materials company’s stock after acquiring an additional 6,498 shares during the period. US Bancorp DE’s holdings in Eastman Chemical were worth $5,273,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the business. Private Trust Co. NA raised its holdings in shares of Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock worth $76,000 after buying an additional 103 shares in the last quarter. Blue Trust Inc. increased its holdings in Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 116 shares in the last quarter. RKL Wealth Management LLC increased its holdings in Eastman Chemical by 0.9% in the 3rd quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company’s stock worth $1,520,000 after purchasing an additional 123 shares in the last quarter. Caprock Group LLC increased its holdings in Eastman Chemical by 4.2% in the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock worth $295,000 after purchasing an additional 128 shares in the last quarter. Finally, Global Retirement Partners LLC increased its holdings in Eastman Chemical by 1.4% in the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock worth $846,000 after purchasing an additional 132 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on EMN shares. Mizuho upped their target price on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. Piper Sandler upped their target price on Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Barclays lowered their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday, February 3rd. JPMorgan Chase & Co. increased their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Finally, KeyCorp increased their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Stock Up 5.1 %

Shares of Eastman Chemical stock opened at $97.82 on Thursday. Eastman Chemical has a one year low of $86.70 and a one 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’s 50-day moving average is $95.02 and its 200 day moving average is $100.32. The firm has a market cap of $11.27 billion, a price-to-earnings ratio of 12.74, a PEG ratio of 1.22 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating 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%. Equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

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