Dimensional Fund Advisors LP Has $223.44 Million Holdings in Eastman Chemical (NYSE:EMN)

Dimensional Fund Advisors LP increased its position in Eastman Chemical (NYSE:EMN) by 9.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 2,280,699 shares of the basic materials company’s stock after purchasing an additional 198,645 shares during the period. Dimensional Fund Advisors LP owned about 1.94% of Eastman Chemical worth $223,435,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Cultivar Capital Inc. acquired a new stake in shares of Eastman Chemical in the second quarter worth $29,000. Northwest Investment Counselors LLC acquired a new stake in Eastman Chemical during the 1st quarter worth about $34,000. EntryPoint Capital LLC purchased a new position in Eastman Chemical during the 1st quarter valued at about $38,000. Rothschild Investment LLC acquired a new position in shares of Eastman Chemical in the 2nd quarter valued at about $38,000. Finally, Friedenthal Financial purchased a new stake in shares of Eastman Chemical in the second quarter worth approximately $49,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EMN has been the topic of several research reports. Barclays upped their price objective on shares of Eastman Chemical from $103.00 to $111.00 and gave the company an “equal weight” rating in a research note 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 report on Monday, July 29th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Monday, July 29th. UBS Group upgraded Eastman Chemical from a “neutral” rating to a “buy” rating and lifted their price target for the company from $106.00 to $128.00 in a report on Thursday, May 23rd. Finally, Citigroup dropped their price objective on Eastman Chemical from $114.00 to $111.00 and set a “buy” rating on the stock in a report on Thursday, June 27th. Seven analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus price target of $108.07.

Eastman Chemical Stock Performance

Shares of EMN opened at $106.38 on Thursday. The company has a market capitalization of $12.52 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 0.75 and a beta of 1.44. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.40 and a quick ratio of 0.71. Eastman Chemical has a one year low of $68.89 and a one year high of $108.04. The company’s fifty day moving average price is $98.89 and its 200 day moving average price is $98.11.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.14. Eastman Chemical had a return on equity of 13.94% and a net margin of 9.65%. The business had revenue of $2.36 billion for the quarter, compared to analyst estimates of $2.36 billion. During the same period in the previous year, the company posted $1.99 earnings per share. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. As a group, analysts expect that Eastman Chemical will post 7.66 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be given a $0.81 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $3.24 annualized dividend and a dividend yield of 3.05%. Eastman Chemical’s dividend payout ratio is 41.75%.

Eastman Chemical Company 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.