Korea Investment CORP Has $12.51 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

Korea Investment CORP raised its position in shares of Eastman Chemical (NYSE:EMN) by 12.2% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 136,994 shares of the basic materials company’s stock after purchasing an additional 14,900 shares during the quarter. Korea Investment CORP owned approximately 0.12% of Eastman Chemical worth $12,510,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of EMN. Crews Bank & Trust bought a new stake in shares of Eastman Chemical in the 4th quarter valued at $27,000. Picton Mahoney Asset Management grew its stake in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock worth $29,000 after acquiring an additional 124 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after purchasing an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new position in Eastman Chemical during the fourth quarter worth about $35,000. Finally, Dunhill Financial LLC lifted its position in shares of Eastman Chemical by 94.7% during the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after buying an additional 162 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

NYSE:EMN opened at $87.09 on Monday. The stock has a market cap of $10.03 billion, a P/E ratio of 11.34, a PEG ratio of 1.22 and a beta of 1.43. 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 business’s 50-day moving average price is $95.66 and its two-hundred day moving average price is $99.37. Eastman Chemical has a twelve month low of $86.50 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating 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 predict that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a yield of 3.81%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Analysts Set New Price Targets

EMN has been the subject of a number of recent analyst reports. Bank of America upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their price objective for the company from $115.00 to $109.00 in a research note on Tuesday, January 14th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. KeyCorp raised their target price on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Barclays cut their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Finally, UBS Group reduced their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday, January 31st. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus 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.