Lido Advisors LLC Takes $414,000 Position in Eastman Chemical (EMN)

Lido Advisors LLC purchased a new stake in Eastman Chemical (NYSE:EMN) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,620 shares of the basic materials company’s stock, valued at approximately $414,000.

A number of other hedge funds have also added to or reduced their stakes in the business. LSV Asset Management increased its stake in Eastman Chemical by 1.0% during the fourth quarter. LSV Asset Management now owns 5,559,003 shares of the basic materials company’s stock valued at $406,418,000 after purchasing an additional 54,306 shares during the last quarter. Oregon Public Employees Retirement Fund increased its stake in Eastman Chemical by 7,724.0% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,316,050 shares of the basic materials company’s stock valued at $45,000 after purchasing an additional 3,273,667 shares during the last quarter. Victory Capital Management Inc. increased its stake in Eastman Chemical by 47.1% during the fourth quarter. Victory Capital Management Inc. now owns 3,260,797 shares of the basic materials company’s stock valued at $238,397,000 after purchasing an additional 1,043,805 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in Eastman Chemical by 1.5% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,342,859 shares of the basic materials company’s stock valued at $171,283,000 after purchasing an additional 34,360 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Eastman Chemical by 8.1% during the fourth quarter. Geode Capital Management LLC now owns 2,243,420 shares of the basic materials company’s stock valued at $163,783,000 after purchasing an additional 168,005 shares during the last quarter. Hedge funds and other institutional investors own 81.12% of the company’s stock.

Several research firms have weighed in on EMN. Zacks Investment Research lowered shares of Eastman Chemical from a “hold” rating to a “sell” rating in a research note on Wednesday, January 16th. SunTrust Banks upped their price target on shares of Eastman Chemical to $88.00 and gave the stock a “hold” rating in a research report on Monday, November 19th. ValuEngine upgraded shares of Eastman Chemical from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 13th. Stifel Nicolaus assumed coverage on shares of Eastman Chemical in a research report on Monday, December 10th. They set a “buy” rating and a $95.00 price target for the company. Finally, Jefferies Financial Group lowered their price target on shares of Eastman Chemical to $91.00 and set a “buy” rating for the company in a research report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. Eastman Chemical currently has an average rating of “Hold” and an average price target of $92.90.

Eastman Chemical stock opened at $78.64 on Friday. The stock has a market cap of $10.99 billion, a PE ratio of 9.59, a PEG ratio of 1.06 and a beta of 1.15. The company has a debt-to-equity ratio of 1.01, a current ratio of 1.82 and a quick ratio of 0.96. Eastman Chemical has a one year low of $67.40 and a one year high of $110.17.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, January 31st. The basic materials company reported $1.39 EPS for the quarter, missing the consensus estimate of $1.60 by ($0.21). The firm had revenue of $2.38 billion for the quarter, compared to the consensus estimate of $2.42 billion. Eastman Chemical had a return on equity of 20.15% and a net margin of 10.64%. Equities research analysts predict that Eastman Chemical will post 8.76 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 5th. Investors of record on Friday, March 15th will be given a $0.62 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.15%. Eastman Chemical’s dividend payout ratio is presently 30.24%.

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Eastman Chemical Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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