Schroder Investment Management Group Sells 3,588 Shares of Eastman Chemical (NYSE:EMN)

Schroder Investment Management Group lowered its holdings in Eastman Chemical (NYSE:EMN) by 13.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 23,722 shares of the basic materials company’s stock after selling 3,588 shares during the quarter. Schroder Investment Management Group’s holdings in Eastman Chemical were worth $2,154,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of the business. Crews Bank & Trust bought a new position in Eastman Chemical in the fourth quarter worth approximately $27,000. Picton Mahoney Asset Management increased its holdings 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 valued at $29,000 after acquiring an additional 124 shares during the period. Assetmark Inc. raised its position in shares of Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock worth $34,000 after acquiring an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in shares of Eastman Chemical during the 4th quarter worth $35,000. Finally, Dunhill Financial LLC boosted its position in Eastman Chemical by 94.7% during the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of EMN opened at $75.48 on Monday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. The stock has a 50-day moving average of $94.76 and a two-hundred day moving average of $98.67. The stock has a market cap of $8.69 billion, a P/E ratio of 9.83, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a one year low of $73.78 and a one year high of $114.50.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. As a group, research analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 4.40%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is currently 43.23%.

Analyst Ratings Changes

A number of equities analysts have commented on EMN shares. JPMorgan Chase & Co. boosted their target price on shares of Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. Barclays reduced their price objective on shares of 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. Mizuho raised shares of Eastman Chemical from a “neutral” rating to an “outperform” rating and set a $105.00 target price for the company in a research report on Thursday. Citigroup raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and cut their price target for the stock from $105.00 to $101.00 in a report on Friday. Finally, Piper Sandler increased their price objective on Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a report on Thursday, February 13th. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $112.83.

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.