O Shaughnessy Asset Management LLC Lowers Position in Eastman Chemical (NYSE:EMN)

O Shaughnessy Asset Management LLC decreased its stake in shares of Eastman Chemical (NYSE:EMN) by 0.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 50,183 shares of the basic materials company’s stock after selling 256 shares during the period. O Shaughnessy Asset Management LLC’s holdings in Eastman Chemical were worth $4,583,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Clearbridge Investments LLC increased its stake in Eastman Chemical by 20.5% in the 4th quarter. Clearbridge Investments LLC now owns 1,229,707 shares of the basic materials company’s stock valued at $112,297,000 after buying an additional 209,075 shares during the last quarter. Brandywine Global Investment Management LLC increased its position in shares of Eastman Chemical by 84.5% during the fourth quarter. Brandywine Global Investment Management LLC now owns 143,482 shares of the basic materials company’s stock valued at $13,103,000 after acquiring an additional 65,693 shares during the last quarter. Intrust Bank NA lifted its holdings in Eastman Chemical by 3.6% during the fourth quarter. Intrust Bank NA now owns 7,776 shares of the basic materials company’s stock worth $710,000 after acquiring an additional 270 shares during the period. Allstate Corp purchased a new position in Eastman Chemical in the fourth quarter worth $327,000. Finally, Brown Brothers Harriman & Co. grew its stake in Eastman Chemical by 135.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 528 shares of the basic materials company’s stock valued at $48,000 after purchasing an additional 304 shares during the period. Institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a report on Monday, February 3rd. UBS Group dropped their target price on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Bank of America raised shares of Eastman Chemical from a “neutral” rating to a “buy” rating and reduced their target price for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. StockNews.com upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Royal Bank of Canada boosted their target price on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research note on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Trading Up 0.3 %

Shares of EMN opened at $88.35 on Thursday. Eastman Chemical has a twelve month low of $85.84 and a twelve month high of $114.50. The stock has a market cap of $10.18 billion, a PE ratio of 11.50, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business’s 50-day moving average price is $95.36 and its 200-day moving average price is $99.11.

Eastman Chemical (NYSE:EMN) last posted 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 net margin of 9.65% and a return on equity of 16.27%. On average, equities analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 3.76%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s payout ratio is 43.23%.

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.