Cumberland Partners Ltd Buys 11,590 Shares of Eastman Chemical (NYSE:EMN)

Cumberland Partners Ltd increased its position in Eastman Chemical (NYSE:EMN - Free Report) by 22.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,125 shares of the basic materials company's stock after buying an additional 11,590 shares during the quarter. Cumberland Partners Ltd owned 0.05% of Eastman Chemical worth $5,765,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Exchange Traded Concepts LLC grew its position in shares of Eastman Chemical by 784.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company's stock valued at $76,000 after buying an additional 604 shares during the last quarter. Bleakley Financial Group LLC bought a new stake in shares of Eastman Chemical in the 3rd quarter valued at $217,000. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in shares of Eastman Chemical by 4.3% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,967 shares of the basic materials company's stock worth $1,340,000 after buying an additional 498 shares during the period. Allspring Global Investments Holdings LLC raised its stake in Eastman Chemical by 118.1% during the third quarter. Allspring Global Investments Holdings LLC now owns 17,578 shares of the basic materials company's stock worth $1,968,000 after buying an additional 9,517 shares during the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Eastman Chemical during the third quarter worth $38,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Stock Performance

Shares of NYSE EMN traded down $1.62 during midday trading on Friday, reaching $98.94. The company's stock had a trading volume of 346,724 shares, compared to its average volume of 1,102,122. The firm has a 50 day moving average price of $94.41 and a 200-day moving average price of $100.18. The stock has a market capitalization of $11.40 billion, a P/E ratio of 12.90, a PEG ratio of 1.23 and a beta of 1.44. Eastman Chemical has a 12-month low of $85.28 and a 12-month high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its 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 16.27% and a net margin of 9.65%. As a group, equities analysts predict that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Shareholders of record on Friday, March 14th will be given a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 3.36%. The ex-dividend date is Friday, March 14th. Eastman Chemical's dividend payout ratio is 43.23%.

Analysts Set New Price Targets

A number of brokerages have weighed in on EMN. StockNews.com upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. UBS Group decreased their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a research note on Friday, January 31st. 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. Royal Bank of Canada boosted their target price on shares of Eastman Chemical from $101.00 to $103.00 and gave the stock a "sector perform" rating in a research report on Tuesday, February 4th. Finally, 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, February 3rd. Six research 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 has an average rating of "Moderate Buy" and a consensus target price of $114.08.

Insider Buying and Selling at Eastman Chemical

In related news, SVP Julie A. Mcalindon sold 4,456 shares of the company's stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total value of $471,623.04. Following the transaction, 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 transaction 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 stock was 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 directly owns 47,287 shares of the company's stock, valued at $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.93% of the company's stock.

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.