Forsta AP Fonden Buys 4,400 Shares of Eastman Chemical (NYSE:EMN)

Forsta AP Fonden lifted its stake in Eastman Chemical (NYSE:EMN) by 13.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 37,600 shares of the basic materials company’s stock after acquiring an additional 4,400 shares during the period. Forsta AP Fonden’s holdings in Eastman Chemical were worth $4,209,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. UMB Bank n.a. boosted its holdings in shares of Eastman Chemical by 4.3% in the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock worth $262,000 after acquiring an additional 96 shares during the period. V Square Quantitative Management LLC raised its position in shares of Eastman Chemical by 3.8% in the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock worth $300,000 after buying an additional 98 shares in the last quarter. Lcnb Corp raised its position in shares of Eastman Chemical by 1.7% in the first quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after buying an additional 103 shares in the last quarter. Kingswood Wealth Advisors LLC raised its position in shares of Eastman Chemical by 2.8% in the second quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after buying an additional 111 shares in the last quarter. Finally, Patrick M Sweeney & Associates Inc. raised its position in shares of Eastman Chemical by 3.3% in the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock worth $384,000 after buying an additional 111 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on EMN. Barclays increased their price objective on Eastman Chemical from $103.00 to $111.00 and gave the stock an “equal weight” rating in a research report on Monday, July 29th. Deutsche Bank Aktiengesellschaft increased their price objective on Eastman Chemical from $100.00 to $108.00 and gave the stock a “hold” rating in a research report on Monday, July 29th. Wells Fargo & Company increased their price objective on Eastman Chemical from $105.00 to $118.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Monday, July 29th. Finally, Royal Bank of Canada raised their price target on Eastman Chemical from $100.00 to $107.00 and gave the company a “sector perform” rating in a research report on Friday, October 11th. Eight analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $110.20.

Eastman Chemical Stock Down 1.7 %

Shares of NYSE:EMN opened at $104.84 on Wednesday. The stock’s 50-day moving average price is $105.54 and its 200-day moving average price is $100.89. Eastman Chemical has a 12-month low of $72.87 and a 12-month high of $114.50. The stock has a market capitalization of $12.33 billion, a P/E ratio of 13.51, a price-to-earnings-growth ratio of 0.81 and a beta of 1.44. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 7th. Stockholders of record on Monday, September 16th were paid a dividend of $0.81 per share. The ex-dividend date of this dividend was Monday, September 16th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 3.09%. Eastman Chemical’s dividend payout ratio (DPR) is currently 41.75%.

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.