Eastman Chemical (NYSE:EMN) Stock Position Lifted by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank grew its position in Eastman Chemical (NYSE:EMN) by 6.1% in the fourth quarter, Holdings Channel.com reports. The fund owned 66,424 shares of the basic materials company’s stock after buying an additional 3,837 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eastman Chemical were worth $6,066,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Private Trust Co. NA boosted its holdings in Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 103 shares during the period. Blue Trust Inc. boosted its holdings in shares of Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock valued at $503,000 after buying an additional 116 shares during the period. Caprock Group LLC grew its position in shares of Eastman Chemical by 4.2% during the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company’s stock valued at $295,000 after buying an additional 128 shares during the last quarter. Global Retirement Partners LLC grew its position in shares of Eastman Chemical by 1.4% during the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company’s stock valued at $846,000 after buying an additional 132 shares during the last quarter. Finally, Metis Global Partners LLC raised its stake in Eastman Chemical by 3.8% during the fourth quarter. Metis Global Partners LLC now owns 3,878 shares of the basic materials company’s stock worth $354,000 after acquiring an additional 143 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

EMN has been the subject of several recent research reports. KeyCorp upped their target price on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Royal Bank of Canada boosted their price objective on Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their target price for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. JPMorgan Chase & Co. boosted their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a report on Monday, February 3rd. Finally, UBS Group dropped their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $114.08.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $91.03 on Friday. The stock has a market cap of $10.48 billion, a price-to-earnings ratio of 11.85, a PEG 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. Eastman Chemical has a 12 month low of $86.70 and a 12 month high of $114.50. The stock’s 50 day moving average price is $95.64 and its 200 day moving average price is $100.14.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 EPS 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%. Equities research analysts anticipate that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.65%. Eastman Chemical’s dividend payout ratio is currently 43.23%.

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.