Mn Services Vermogensbeheer B.V. Lowers Holdings in Eastman Chemical (NYSE:EMN)

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Eastman Chemical (NYSE:EMN) by 3.7% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 54,700 shares of the basic materials company’s stock after selling 2,100 shares during the quarter. Mn Services Vermogensbeheer B.V.’s holdings in Eastman Chemical were worth $4,913,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of EMN. Blair William & Co. IL grew its holdings in shares of Eastman Chemical by 2.5% during the first quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock valued at $491,000 after buying an additional 105 shares during the last quarter. Sunbelt Securities Inc. boosted its stake in Eastman Chemical by 4.1% during the 2nd quarter. Sunbelt Securities Inc. now owns 3,107 shares of the basic materials company’s stock valued at $260,000 after purchasing an additional 122 shares during the last quarter. Tucker Asset Management LLC boosted its stake in Eastman Chemical by 19.5% during the 3rd quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock valued at $67,000 after purchasing an additional 142 shares during the last quarter. Yousif Capital Management LLC increased its holdings in shares of Eastman Chemical by 0.8% in the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock worth $2,087,000 after purchasing an additional 150 shares in the last quarter. Finally, BOKF NA raised its stake in shares of Eastman Chemical by 3.8% in the second quarter. BOKF NA now owns 4,259 shares of the basic materials company’s stock worth $357,000 after purchasing an additional 154 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

NYSE EMN opened at $96.43 on Wednesday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35. The business’s fifty day moving average is $91.91 and its 200 day moving average is $85.33. The company has a market capitalization of $11.34 billion, a PE ratio of 12.87, a price-to-earnings-growth ratio of 1.08 and a beta of 1.54. Eastman Chemical has a fifty-two week low of $68.89 and a fifty-two week high of $102.71.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.28 by $0.03. Eastman Chemical had a net margin of 9.71% and a return on equity of 14.15%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.21 billion. During the same period in the prior year, the company posted $0.89 earnings per share. The company’s revenue for the quarter was down 7.0% compared to the same quarter last year. Sell-side analysts predict that Eastman Chemical will post 7.7 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were issued a $0.81 dividend. The ex-dividend date of this dividend was Thursday, March 14th. This represents a $3.24 dividend on an annualized basis and a yield of 3.36%. Eastman Chemical’s dividend payout ratio is presently 43.26%.

Insider Buying and Selling

In other news, SVP Adrian James Holt sold 4,735 shares of Eastman Chemical stock in a transaction that occurred 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 legal filing with the SEC, which is available at this hyperlink. 2.28% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

EMN has been the topic of several recent analyst reports. UBS Group increased their price objective on Eastman Chemical from $91.00 to $93.00 and gave the company a “neutral” rating in a research report on Friday, February 2nd. Citigroup lifted their price target on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research note on Wednesday, April 10th. Wells Fargo & Company increased their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the company an “equal weight” rating in a research report on Thursday, April 11th. Stifel Nicolaus cut their target price on shares of Eastman Chemical from $102.00 to $101.00 and set a “buy” rating for the company in a research report on Monday, February 5th. Finally, Royal Bank of Canada decreased their target price on shares of Eastman Chemical from $91.00 to $89.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 6th. Seven analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $97.13.

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.