Mitsubishi UFJ Trust & Banking Corp Has $5 Million Stock Holdings in Eastman Chemical (NYSE:EMN)

Mitsubishi UFJ Trust & Banking Corp lowered its stake in Eastman Chemical (NYSE:EMN) by 0.5% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 54,778 shares of the basic materials company’s stock after selling 286 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Eastman Chemical were worth $5,002,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of EMN. Private Trust Co. NA grew its position in Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock worth $76,000 after acquiring an additional 103 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Eastman Chemical by 2.2% during the fourth quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock worth $503,000 after purchasing an additional 116 shares during the last quarter. Picton Mahoney Asset Management increased its stake in shares of Eastman Chemical by 62.3% in the fourth quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company’s stock valued at $29,000 after buying an additional 124 shares during the period. Caprock Group LLC raised its holdings in Eastman Chemical by 4.2% in 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. Finally, Global Retirement Partners LLC boosted its position in 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. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

NYSE:EMN opened at $87.09 on Monday. The firm has a market capitalization of $10.03 billion, a P/E ratio of 11.34, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a twelve month low of $86.50 and a twelve month high of $114.50. The company has a fifty day moving average of $95.66 and a 200-day moving average of $99.37. 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 (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share for the quarter, beating 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%. As a group, sell-side analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed 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. 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 3.81%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Analyst Ratings Changes

Several research firms have recently issued reports on EMN. KeyCorp raised their price target on shares of Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. UBS Group cut their target price on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a report on Friday, January 31st. JPMorgan Chase & Co. increased their price target on Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research note on Monday, February 3rd. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Finally, Royal Bank of Canada increased their target price on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, Eastman Chemical currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.08.

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.