HighTower Advisors LLC Has $3.18 Million Holdings in Eastman Chemical (NYSE:EMN)

HighTower Advisors LLC boosted its holdings in Eastman Chemical (NYSE:EMN) by 5.2% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 34,800 shares of the basic materials company’s stock after buying an additional 1,715 shares during the quarter. HighTower Advisors LLC’s holdings in Eastman Chemical were worth $3,178,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of EMN. Empowered Funds LLC boosted its stake in shares of Eastman Chemical by 41.4% during the third quarter. Empowered Funds LLC now owns 13,967 shares of the basic materials company’s stock valued at $1,564,000 after purchasing an additional 4,092 shares in the last quarter. Quest Partners LLC acquired a new stake in shares of Eastman Chemical during the third quarter valued at about $154,000. Pathstone Holdings LLC boosted its stake in shares of Eastman Chemical by 2.2% during the third quarter. Pathstone Holdings LLC now owns 16,483 shares of the basic materials company’s stock valued at $1,846,000 after purchasing an additional 348 shares in the last quarter. Caprock Group LLC boosted its stake in shares of Eastman Chemical by 33.5% during the third quarter. Caprock Group LLC now owns 3,068 shares of the basic materials company’s stock valued at $346,000 after purchasing an additional 770 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of Eastman Chemical during the third quarter valued at about $314,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Trading Down 1.5 %

Shares of EMN stock opened at $88.55 on Friday. The company has a market cap of $10.20 billion, a P/E ratio of 11.53, a PEG ratio of 1.22 and a beta of 1.43. The stock has a 50 day simple moving average of $95.92 and a two-hundred day simple moving average of $99.69. 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 fifty-two week low of $86.70 and a fifty-two week high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, topping analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. Research analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be paid 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 3.75%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Analyst Ratings Changes

EMN has been the topic of a number of recent research reports. UBS Group cut their price target on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. KeyCorp raised their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Citigroup downgraded Eastman Chemical from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Finally, JPMorgan Chase & Co. raised their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six research analysts have rated the stock with a hold rating and seven 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 an average price target of $114.08.

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.