Deutsche Bank AG Has $42.88 Million Holdings in Eastman Chemical Company (NYSE:EMN)

Deutsche Bank AG raised its position in Eastman Chemical Company (NYSE:EMN) by 7.3% during the first quarter, Holdings Channel reports. The firm owned 486,677 shares of the basic materials company’s stock after purchasing an additional 33,218 shares during the period. Deutsche Bank AG’s holdings in Eastman Chemical were worth $42,881,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Capital Research Global Investors lifted its holdings in Eastman Chemical by 13.4% in the fourth quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company’s stock valued at $537,561,000 after buying an additional 697,388 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Eastman Chemical by 2.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,385,591 shares of the basic materials company’s stock worth $217,850,000 after acquiring an additional 47,810 shares in the last quarter. Earnest Partners LLC lifted its stake in shares of Eastman Chemical by 1.6% in the 4th quarter. Earnest Partners LLC now owns 2,277,827 shares of the basic materials company’s stock valued at $208,011,000 after purchasing an additional 35,793 shares during the period. Capital World Investors bought a new stake in shares of Eastman Chemical during the 4th quarter valued at about $137,848,000. Finally, Northern Trust Corp grew its stake in Eastman Chemical by 10.3% during the fourth quarter. Northern Trust Corp now owns 1,377,400 shares of the basic materials company’s stock worth $125,784,000 after purchasing an additional 128,488 shares during the period. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. Morgan Stanley dropped their price target on Eastman Chemical from $125.00 to $115.00 and set an “overweight” rating on the stock in a research note on Monday, April 28th. UBS Group cut their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a “buy” rating on the stock in a research note on Wednesday, July 9th. Wells Fargo & Company decreased their price target on shares of Eastman Chemical from $90.00 to $70.00 and set an “overweight” rating for the company in a research note on Monday, August 4th. Royal Bank Of Canada dropped their price objective on shares of Eastman Chemical from $91.00 to $74.00 and set an “outperform” rating on the stock in a report on Tuesday, August 5th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and issued a $76.00 target price (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, Eastman Chemical has an average rating of “Moderate Buy” and an average price target of $87.00.

Eastman Chemical Stock Up 3.8%

Shares of NYSE:EMN opened at $63.39 on Wednesday. The business’s 50 day moving average is $75.06 and its 200 day moving average is $83.00. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $114.50. The stock has a market cap of $7.28 billion, a price-to-earnings ratio of 8.90, a PEG ratio of 5.70 and a beta of 1.21. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.12). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%. The firm had revenue of $2.29 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same period in the prior year, the firm earned $2.15 earnings per share. Eastman Chemical’s revenue was down 3.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a $0.83 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.32 annualized dividend and a yield of 5.2%. Eastman Chemical’s dividend payout ratio (DPR) is 46.63%.

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.