8,115 Shares in Eastman Chemical (NYSE:EMN) Purchased by James J. Burns & Company LLC

James J. Burns & Company LLC bought a new position in Eastman Chemical (NYSE:EMN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 8,115 shares of the basic materials company’s stock, valued at approximately $741,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of EMN. Mather Group LLC. raised its position in shares of Eastman Chemical by 14.2% in the fourth quarter. Mather Group LLC. now owns 1,470 shares of the basic materials company’s stock worth $134,000 after buying an additional 183 shares in the last quarter. CENTRAL TRUST Co increased its stake in Eastman Chemical by 27.6% in the 4th quarter. CENTRAL TRUST Co now owns 924 shares of the basic materials company’s stock worth $84,000 after acquiring an additional 200 shares during the last quarter. U.S. Capital Wealth Advisors LLC raised its holdings in shares of Eastman Chemical by 4.3% in the 4th quarter. U.S. Capital Wealth Advisors LLC now owns 3,919 shares of the basic materials company’s stock valued at $358,000 after acquiring an additional 162 shares in the last quarter. DAVENPORT & Co LLC boosted its position in shares of Eastman Chemical by 11.1% during the 4th quarter. DAVENPORT & Co LLC now owns 3,059 shares of the basic materials company’s stock valued at $279,000 after acquiring an additional 305 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. grew its holdings in shares of Eastman Chemical by 12.4% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,638 shares of the basic materials company’s stock worth $332,000 after purchasing an additional 400 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Insider Activity at Eastman Chemical

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of the sale, the senior vice president now directly owns 4,403 shares of the company’s stock, valued at $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm’s stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the transaction, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock worth $1,895,948 in the last quarter. 2.28% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on EMN shares. Barclays dropped their target price on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a report on Monday. UBS Group lowered their price objective on Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a research note on Friday. Mizuho lifted their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a report on Tuesday, November 26th. 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 report on Monday. Finally, Deutsche Bank Aktiengesellschaft lowered their price objective on Eastman Chemical from $115.00 to $110.00 and set a “hold” rating on the stock in a research report on Monday, November 4th. Six research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $112.79.

Eastman Chemical Price Performance

NYSE:EMN opened at $100.81 on Tuesday. The firm has a market capitalization of $11.68 billion, a price-to-earnings ratio of 13.13, a PEG ratio of 0.73 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. The business has a 50 day simple moving average of $94.70 and a 200-day simple moving average of $100.03. Eastman Chemical has a 1 year low of $80.89 and a 1 year high of $114.50.

Eastman Chemical (NYSE:EMN) last released its 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 16.40%. Equities analysts forecast that Eastman Chemical will post 8.46 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were paid a dividend of $0.83 per share. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.29%. The ex-dividend date of this dividend was Monday, December 16th. Eastman Chemical’s dividend payout ratio (DPR) 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.