Regents Gate Capital LLP Makes New Investment in Eastman Chemical (NYSE:EMN)

Regents Gate Capital LLP purchased a new stake in Eastman Chemical (NYSE:EMN - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 112,073 shares of the basic materials company's stock, valued at approximately $10,235,000. Eastman Chemical accounts for approximately 4.1% of Regents Gate Capital LLP's investment portfolio, making the stock its 3rd biggest position. Regents Gate Capital LLP owned 0.10% of Eastman Chemical as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of EMN. James J. Burns & Company LLC purchased a new position in shares of Eastman Chemical during the fourth quarter valued at $741,000. National Bank of Canada FI boosted its position in Eastman Chemical by 492.9% during the 3rd quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company's stock worth $23,863,000 after acquiring an additional 177,207 shares during the period. Goelzer Investment Management Inc. purchased a new position in Eastman Chemical during the 4th quarter valued at about $3,319,000. KBC Group NV lifted its position in shares of Eastman Chemical by 21.8% in the third quarter. KBC Group NV now owns 110,610 shares of the basic materials company's stock worth $12,383,000 after purchasing an additional 19,809 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of Eastman Chemical by 6.8% during the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock worth $16,588,000 after purchasing an additional 9,447 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Insider Transactions at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the sale, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. This represents a 50.30 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the firm's 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 sale, the executive vice president now owns 47,287 shares of the company's stock, 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. 1.93% of the stock is currently owned by insiders.

Eastman Chemical Stock Performance

Shares of NYSE:EMN traded up $0.36 on Thursday, hitting $101.64. 744,360 shares of the company were exchanged, compared to its average volume of 1,157,674. The company's 50 day moving average price is $94.26 and its two-hundred day moving average price is $100.18. The firm has a market capitalization of $11.78 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 1.24 and a beta of 1.44. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. Eastman Chemical has a one year low of $81.76 and a one year high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.40% and a net margin of 9.65%. Research analysts expect that Eastman Chemical will post 8.47 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.27%. Eastman Chemical's dividend payout ratio is currently 43.23%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research note on Monday, November 4th. Wells Fargo & Company raised shares of Eastman Chemical from an "equal weight" rating to an "overweight" rating and upped their price target for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. Royal Bank of Canada boosted their target price on Eastman Chemical from $101.00 to $103.00 and gave the company a "sector perform" rating in a research note on Tuesday, February 4th. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their target price for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Finally, Mizuho boosted their price target on Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of "Moderate Buy" and an average target price of $113.77.

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.