First American Bank Boosts Stake in Eastman Chemical (NYSE:EMN)

First American Bank lifted its holdings in shares of Eastman Chemical (NYSE:EMN) by 1.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 34,209 shares of the basic materials company’s stock after acquiring an additional 645 shares during the quarter. First American Bank’s holdings in Eastman Chemical were worth $3,124,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Crews Bank & Trust purchased a new stake in Eastman Chemical during the 4th quarter worth approximately $27,000. Bradley & Co. Private Wealth Management LLC bought a new stake in shares of Eastman Chemical in the fourth quarter worth $35,000. Dunhill Financial LLC grew its holdings in 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 acquiring an additional 162 shares in the last quarter. Stonebridge Financial Group LLC bought a new stake in shares of Eastman Chemical in the 4th quarter worth about $37,000. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at about $75,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of research reports. Royal Bank of Canada lifted their price target on Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research note on Tuesday, February 4th. KeyCorp lifted their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. JPMorgan Chase & Co. lifted their target price on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. Barclays dropped their price target on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research report on Monday, February 3rd. Finally, Deutsche Bank Aktiengesellschaft reduced their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research report on Monday, November 4th. Six equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $114.08.

Eastman Chemical Trading Down 1.3 %

NYSE:EMN opened at $96.92 on Friday. The stock has a market cap of $11.16 billion, a price-to-earnings ratio of 12.62, a PEG ratio of 1.22 and a beta of 1.44. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.78 and a current ratio of 1.51. Eastman Chemical has a 1 year low of $85.28 and a 1 year high of $114.50. The business has a fifty day moving average of $94.80 and a 200-day moving average of $100.29.

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 analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. Equities analysts predict that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 3.43%. Eastman Chemical’s dividend payout ratio (DPR) is 43.23%.

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.