Robeco Institutional Asset Management B.V. Sells 17,480 Shares of Eastman Chemical (NYSE:EMN)

Robeco Institutional Asset Management B.V. trimmed its position in shares of Eastman Chemical (NYSE:EMN) by 62.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,536 shares of the basic materials company’s stock after selling 17,480 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Eastman Chemical were worth $946,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Command Advisory Services Inc. bought a new position in Eastman Chemical in the 3rd quarter worth approximately $26,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter worth $26,000. Sound Income Strategies LLC increased its position in Eastman Chemical by 213.8% during the fourth quarter. Sound Income Strategies LLC now owns 408 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 278 shares during the period. Bruce G. Allen Investments LLC acquired a new position in Eastman Chemical during the 4th quarter valued at $38,000. Finally, Orion Capital Management LLC bought a new stake in Eastman Chemical in the 3rd quarter valued at $40,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eastman Chemical news, SVP Adrian James Holt sold 3,662 shares of Eastman Chemical stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $101.26, for a total value of $370,814.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of the firm’s stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total value of $10,318,864.20. Following the completion of the transaction, the chief executive officer now directly owns 395,699 shares in the company, valued at $39,878,545.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Adrian James Holt sold 3,662 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.26, for a total value of $370,814.12. The disclosure for this sale can be found here. In the last three months, insiders sold 110,787 shares of company stock valued at $11,105,175. 1.93% of the stock is owned by corporate insiders.

Eastman Chemical Stock Down 0.4 %

NYSE EMN opened at $99.05 on Friday. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.71 and a current ratio of 1.39. Eastman Chemical has a 52 week low of $68.89 and a 52 week high of $102.71. The stock has a market capitalization of $11.65 billion, a P/E ratio of 12.76, a price-to-earnings-growth ratio of 1.08 and a beta of 1.54. The stock has a fifty day moving average of $98.23 and a 200-day moving average of $89.85.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, April 25th. The basic materials company reported $1.61 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.84% and a net margin of 10.16%. The firm had revenue of $2.31 billion during the quarter, compared to analysts’ expectations of $2.29 billion. During the same period in the previous year, the business posted $1.63 EPS. The company’s quarterly revenue was down 4.2% compared to the same quarter last year. On average, equities research analysts forecast that Eastman Chemical will post 7.75 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 9th. Investors of record on Monday, June 17th will be given a $0.81 dividend. The ex-dividend date is Monday, June 17th. This represents a $3.24 annualized dividend and a dividend yield of 3.27%. Eastman Chemical’s dividend payout ratio is presently 41.75%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on EMN shares. Stifel Nicolaus cut 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. KeyCorp raised their price objective on Eastman Chemical from $101.00 to $121.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. Mizuho boosted their price objective on Eastman Chemical from $91.00 to $102.00 and gave the company a “neutral” rating in a research report on Friday, April 26th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, May 13th. Finally, Bank of America lowered their target price on shares of Eastman Chemical from $113.00 to $112.00 and set a “buy” rating on the stock in a research note on Monday, April 29th. Six investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $106.24.

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.