Daiwa Securities Group Inc. Has $949,000 Stock Position in Eastman Chemical (NYSE:EMN)

Daiwa Securities Group Inc. grew its stake in shares of Eastman Chemical (NYSE:EMN) by 5.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,569 shares of the basic materials company’s stock after purchasing an additional 578 shares during the period. Daiwa Securities Group Inc.’s holdings in Eastman Chemical were worth $949,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Invesco Ltd. raised its holdings in shares of Eastman Chemical by 37.4% in the 3rd quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company’s stock worth $214,496,000 after acquiring an additional 760,974 shares during the last quarter. Mackenzie Financial Corp raised its holdings in shares of Eastman Chemical by 274.5% in the 4th quarter. Mackenzie Financial Corp now owns 249,104 shares of the basic materials company’s stock worth $22,375,000 after acquiring an additional 391,848 shares during the last quarter. Schonfeld Strategic Advisors LLC raised its holdings in shares of Eastman Chemical by 1,031.0% in the 3rd quarter. Schonfeld Strategic Advisors LLC now owns 333,655 shares of the basic materials company’s stock worth $25,598,000 after acquiring an additional 304,155 shares during the last quarter. Earnest Partners LLC raised its holdings in shares of Eastman Chemical by 19.9% in the 3rd quarter. Earnest Partners LLC now owns 1,807,691 shares of the basic materials company’s stock worth $138,686,000 after acquiring an additional 299,951 shares during the last quarter. Finally, Ceredex Value Advisors LLC raised its holdings in shares of Eastman Chemical by 54.4% in the 3rd quarter. Ceredex Value Advisors LLC now owns 594,789 shares of the basic materials company’s stock worth $46,099,000 after acquiring an additional 209,644 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Down 0.5 %

Eastman Chemical stock opened at $96.36 on Thursday. Eastman Chemical has a 1-year low of $68.89 and a 1-year high of $102.71. The firm has a market capitalization of $11.33 billion, a price-to-earnings ratio of 12.87, a P/E/G ratio of 1.07 and a beta of 1.54. The company has a current ratio of 1.35, a quick ratio of 0.70 and a debt-to-equity ratio of 0.78. The firm has a 50 day simple moving average of $93.27 and a 200 day simple moving average of $86.09.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Friday, February 2nd. The basic materials company reported $1.31 earnings per share for the quarter, beating 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 business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period in the previous year, the business earned $0.89 EPS. Eastman Chemical’s revenue was down 7.0% compared to the same quarter last year. On average, analysts predict that Eastman Chemical will post 7.71 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Investors of record on Friday, March 15th were paid 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 43.26%.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.27% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have issued reports on EMN. Royal Bank of Canada upped their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock a “sector perform” rating in a research report on Friday, April 19th. Citigroup upped their price objective on shares of Eastman Chemical from $95.00 to $114.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th. UBS Group upped their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the stock a “neutral” rating in a research report on Friday, February 2nd. Wells Fargo & Company upped their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus reduced their price objective 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. Seven equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $97.81.

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.