Eastman Chemical (NYSE:EMN) Shares Purchased by Whittier Trust Co. of Nevada Inc.

Whittier Trust Co. of Nevada Inc. raised its position in shares of Eastman Chemical (NYSE:EMN) by 62.9% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,212 shares of the basic materials company’s stock after purchasing an additional 468 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in Eastman Chemical were worth $111,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of EMN. Raymond James Financial Inc. acquired a new position in Eastman Chemical during the 4th quarter valued at about $150,537,000. Wealthfront Advisers LLC lifted its stake in shares of Eastman Chemical by 3,136.8% in the 4th quarter. Wealthfront Advisers LLC now owns 736,011 shares of the basic materials company’s stock worth $67,213,000 after acquiring an additional 713,272 shares during the period. Franklin Resources Inc. lifted its stake in shares of Eastman Chemical by 5.7% in the 3rd quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock worth $593,233,000 after acquiring an additional 282,458 shares during the period. National Bank of Canada FI lifted its stake in shares of Eastman Chemical by 492.9% in the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock worth $23,863,000 after acquiring an additional 177,207 shares during the period. Finally, Regents Gate Capital LLP acquired a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $10,235,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Stock Performance

EMN stock opened at $88.55 on Monday. 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 company has a market capitalization of $10.20 billion, a price-to-earnings ratio of 11.53, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a 12 month low of $86.70 and a 12 month high of $114.50. The firm has a 50 day moving average of $95.92 and a two-hundred day moving average of $99.69.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 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%. As a group, equities analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed 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 dividend yield of 3.75%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

Wall Street Analyst Weigh In

A number of analysts recently commented on EMN shares. Wells Fargo & Company upgraded shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $110.00 to $125.00 in a report on Tuesday, November 26th. KeyCorp boosted their target price on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and cut their price target for the company from $118.00 to $104.00 in a report on Wednesday, December 18th. UBS Group cut their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Finally, Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical has an average rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Company 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.