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

James J. Burns & Company LLC bought a new stake in shares of Eastman Chemical (NYSE:EMN) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 8,115 shares of the basic materials company’s stock, valued at approximately $741,000.

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

Insider Activity

In other news, SVP Christopher Moore Killian sold 3,061 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the transaction, the senior vice president now owns 12,366 shares in the company, valued at $1,298,430. This trade represents a 19.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the transaction, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at approximately $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,021 shares of company stock worth $1,895,948 in the last quarter. Corporate insiders own 2.28% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently commented on the stock. Piper Sandler lowered their target price on shares of Eastman Chemical from $105.00 to $102.00 and set a “neutral” rating for the company in a research note on Tuesday, January 7th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a “hold” rating for the company in a research note on Monday, November 4th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. KeyCorp boosted their price target on Eastman Chemical from $121.00 to $128.00 and gave the company an “overweight” rating in a research note on Monday. Finally, JPMorgan Chase & Co. raised their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an “overweight” rating in a research note on Monday. Six analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $112.79.

Eastman Chemical Stock Up 1.2 %

EMN stock opened at $100.81 on Tuesday. Eastman Chemical has a one year low of $80.89 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The firm’s fifty day moving average is $94.70 and its 200 day moving average is $100.03. The firm has a market cap of $11.68 billion, a PE ratio of 13.13, a P/E/G ratio of 0.73 and a beta of 1.44.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, beating analysts’ consensus estimates of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. On average, research analysts forecast that Eastman Chemical will post 8.46 EPS for the current year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 3.29%. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. Eastman Chemical’s dividend payout ratio is presently 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.