Eastman Chemical (NYSE:EMN) Stock Holdings Cut by Sompo Asset Management Co. Ltd.

Sompo Asset Management Co. Ltd. decreased its position in Eastman Chemical (NYSE:EMN) by 29.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,180 shares of the basic materials company’s stock after selling 1,730 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Eastman Chemical were worth $382,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of EMN. Coppell Advisory Solutions LLC boosted its position in shares of Eastman Chemical by 10.3% during the 4th quarter. Coppell Advisory Solutions LLC now owns 11,565 shares of the basic materials company’s stock valued at $1,050,000 after purchasing an additional 1,079 shares in the last quarter. Fuller & Thaler Asset Management Inc. lifted its stake in Eastman Chemical by 51.1% during the fourth quarter. Fuller & Thaler Asset Management Inc. now owns 5,350 shares of the basic materials company’s stock valued at $489,000 after purchasing an additional 1,810 shares during the last quarter. Hsbc Holdings PLC boosted its holdings in Eastman Chemical by 3.1% during the fourth quarter. Hsbc Holdings PLC now owns 253,886 shares of the basic materials company’s stock worth $23,173,000 after buying an additional 7,569 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Eastman Chemical by 83.0% in the fourth quarter. Tower Research Capital LLC TRC now owns 5,816 shares of the basic materials company’s stock worth $531,000 after buying an additional 2,637 shares during the last quarter. Finally, MML Investors Services LLC increased its holdings in shares of Eastman Chemical by 2.1% in the fourth quarter. MML Investors Services LLC now owns 111,175 shares of the basic materials company’s stock valued at $10,152,000 after buying an additional 2,239 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Royal Bank of Canada upgraded Eastman Chemical from a “sector perform” rating to an “outperform” rating and set a $91.00 target price on the stock in a report on Wednesday, April 9th. UBS Group dropped their price target on Eastman Chemical from $123.00 to $115.00 and set a “buy” rating on the stock in a research note on Monday, April 7th. Wells Fargo & Company reduced their price objective on shares of Eastman Chemical from $125.00 to $90.00 and set an “overweight” rating for the company in a research note on Wednesday, April 9th. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Finally, Piper Sandler cut their price target on shares of Eastman Chemical from $105.00 to $99.00 and set a “neutral” rating on the stock in a report on Monday, April 7th. Three equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $107.08.

Eastman Chemical Trading Down 0.6 %

Shares of NYSE:EMN opened at $78.82 on Thursday. Eastman Chemical has a 12-month low of $70.90 and a 12-month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market capitalization of $9.08 billion, a P/E ratio of 10.26, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. The firm has a fifty day moving average of $88.34 and a two-hundred day moving average of $95.51.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts expect that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 7th. Investors of record on Friday, March 14th were given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 4.21%. The ex-dividend date was Friday, March 14th. Eastman Chemical’s payout ratio is presently 43.23%.

About Eastman Chemical

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.