Elo Mutual Pension Insurance Co Purchases 3,018 Shares of Eastman Chemical (NYSE:EMN)

Elo Mutual Pension Insurance Co boosted its position in shares of Eastman Chemical (NYSE:EMN) by 28.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,464 shares of the basic materials company’s stock after purchasing an additional 3,018 shares during the period. Elo Mutual Pension Insurance Co’s holdings in Eastman Chemical were worth $1,230,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in EMN. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $27,000. Picton Mahoney Asset Management boosted its holdings in Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after acquiring an additional 124 shares during the period. Assetmark Inc. grew its position in Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares during the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical in the fourth quarter worth $35,000. Finally, Dunhill Financial LLC increased its stake in Eastman Chemical by 94.7% in the third quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after purchasing an additional 162 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on EMN. Piper Sandler upped their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. JPMorgan Chase & Co. lifted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group dropped their price objective 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. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their target price for the company from $115.00 to $109.00 in a research report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Price Performance

EMN opened at $87.09 on Monday. The firm has a market capitalization of $10.03 billion, a PE ratio of 11.34, a price-to-earnings-growth 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’s 50-day moving average is $95.66 and its two-hundred day moving average is $99.37. Eastman Chemical has a 1 year low of $86.50 and a 1 year high of $114.50.

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

Eastman Chemical Announces Dividend

The firm also recently declared 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. This represents a $3.32 dividend on an annualized basis and a yield of 3.81%. The ex-dividend date is Friday, March 14th. Eastman Chemical’s dividend payout ratio (DPR) is presently 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.