Eastman Chemical (NYSE:EMN) Shares Acquired by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Eastman Chemical (NYSE:EMN) by 6.1% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 66,424 shares of the basic materials company’s stock after purchasing an additional 3,837 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned about 0.06% of Eastman Chemical worth $6,066,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of EMN. Sowell Financial Services LLC grew its stake in shares of Eastman Chemical by 7.7% during the 4th quarter. Sowell Financial Services LLC now owns 12,562 shares of the basic materials company’s stock valued at $1,147,000 after buying an additional 902 shares during the period. PNC Financial Services Group Inc. grew its position in Eastman Chemical by 0.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 944,088 shares of the basic materials company’s stock valued at $86,214,000 after acquiring an additional 8,356 shares during the period. RKL Wealth Management LLC increased its stake in Eastman Chemical by 5.3% during the fourth quarter. RKL Wealth Management LLC now owns 14,300 shares of the basic materials company’s stock worth $1,306,000 after acquiring an additional 724 shares during the last quarter. Andra AP fonden raised its holdings in shares of Eastman Chemical by 4.9% in the 4th quarter. Andra AP fonden now owns 43,200 shares of the basic materials company’s stock worth $3,945,000 after purchasing an additional 2,000 shares during the period. Finally, Callan Family Office LLC acquired a new position in shares of Eastman Chemical in the 4th quarter valued at about $228,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on EMN shares. StockNews.com raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Barclays reduced their target price on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a report on Monday, February 3rd. Citigroup cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $118.00 to $104.00 in a research report on Wednesday, December 18th. Finally, KeyCorp raised their price objective on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. Six analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Stock Up 0.5 %

Shares of Eastman Chemical stock opened at $91.03 on Friday. Eastman Chemical has a 1-year low of $86.70 and a 1-year high of $114.50. The company has a market capitalization of $10.48 billion, a PE ratio of 11.85, a P/E/G ratio of 1.22 and a beta of 1.43. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The business has a 50-day moving average of $95.64 and a 200-day moving average of $100.14.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating 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%. As a group, equities analysts forecast that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be issued a $0.83 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.32 annualized dividend and a yield of 3.65%. Eastman Chemical’s dividend payout ratio is presently 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.