Achmea Investment Management B.V. Has $752,000 Holdings in Eastman Chemical (NYSE:EMN)

Achmea Investment Management B.V. raised its stake in Eastman Chemical (NYSE:EMN) by 63.7% in the 4th quarter, HoldingsChannel reports. The fund owned 8,227 shares of the basic materials company’s stock after buying an additional 3,201 shares during the quarter. Achmea Investment Management B.V.’s holdings in Eastman Chemical were worth $752,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Private Trust Co. NA increased its position in Eastman Chemical by 14.0% in the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock valued at $76,000 after acquiring an additional 103 shares in the last quarter. Blue Trust Inc. grew its position in shares of Eastman Chemical by 2.2% during the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $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 worth $295,000 after buying an additional 128 shares during the period. 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 worth $846,000 after buying an additional 132 shares during the period. Finally, Metis Global Partners LLC grew its position in shares of Eastman Chemical by 3.8% during the 4th quarter. Metis Global Partners LLC now owns 3,878 shares of the basic materials company’s stock worth $354,000 after buying an additional 143 shares during the period. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Ratings Changes

EMN has been the subject of several analyst reports. Royal Bank of Canada lifted their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a “sector perform” rating in a research report on Tuesday, February 4th. Mizuho lifted their price target on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. UBS Group reduced their price objective 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. Barclays reduced their price objective on shares of Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating on the stock in a research note on Monday, February 3rd. Finally, KeyCorp lifted their price objective on shares of Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research note on Monday, February 3rd. Six equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $114.08.

Eastman Chemical Price Performance

NYSE EMN opened at $91.03 on Friday. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 12-month low of $86.70 and a 12-month high of $114.50. The company has a market capitalization of $10.48 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.22 and a beta of 1.43. The firm’s 50 day moving average is $95.69 and its 200-day moving average is $100.07.

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

Eastman Chemical Announces Dividend

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