Hsbc Holdings PLC Has $17.83 Million Stake in Eastman Chemical (NYSE:EMN)

Hsbc Holdings PLC boosted its position in shares of Eastman Chemical (NYSE:EMN - Free Report) by 7.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 198,298 shares of the basic materials company's stock after purchasing an additional 14,438 shares during the period. Hsbc Holdings PLC owned 0.17% of Eastman Chemical worth $17,826,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the company. Private Advisor Group LLC grew its position in Eastman Chemical by 33.9% in the third quarter. Private Advisor Group LLC now owns 8,956 shares of the basic materials company's stock worth $680,000 after acquiring an additional 2,265 shares in the last quarter. Victory Capital Management Inc. boosted its holdings in Eastman Chemical by 4.2% in the third quarter. Victory Capital Management Inc. now owns 195,060 shares of the basic materials company's stock worth $14,965,000 after purchasing an additional 7,857 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in Eastman Chemical by 16.0% during the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 121,076 shares of the basic materials company's stock worth $9,289,000 after buying an additional 16,700 shares during the last quarter. Atria Investments Inc raised its holdings in Eastman Chemical by 6.6% during the third quarter. Atria Investments Inc now owns 17,857 shares of the basic materials company's stock valued at $1,370,000 after buying an additional 1,108 shares in the last quarter. Finally, Metis Global Partners LLC lifted its position in shares of Eastman Chemical by 20.3% in the third quarter. Metis Global Partners LLC now owns 4,317 shares of the basic materials company's stock worth $331,000 after buying an additional 729 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, CEO Mark J. Costa sold 102,390 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the completion of the transaction, the chief executive officer now directly owns 395,699 shares in the company, valued at $39,878,545.22. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Adrian James Holt sold 3,662 shares of the business's stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $101.26, for a total value of $370,814.12. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Mark J. Costa sold 102,390 shares of the firm's stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total value of $10,318,864.20. Following the sale, the chief executive officer now directly owns 395,699 shares of the company's stock, valued at $39,878,545.22. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 110,787 shares of company stock valued at $11,105,175. 1.93% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on EMN shares. Mizuho raised their price objective on Eastman Chemical from $91.00 to $102.00 and gave the company a "neutral" rating in a research note on Friday, April 26th. Wells Fargo & Company boosted their price objective on shares of Eastman Chemical from $89.00 to $100.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 11th. Stifel Nicolaus lowered their target price on shares of Eastman Chemical from $102.00 to $101.00 and set a "buy" rating on the stock in a research note on Monday, February 5th. Royal Bank of Canada boosted their target price on shares of Eastman Chemical from $100.00 to $104.00 and gave the stock a "sector perform" rating in a research report on Tuesday, April 30th. Finally, Barclays upped their price target on shares of Eastman Chemical from $85.00 to $103.00 and gave the company an "equal weight" rating in a report on Monday, May 6th. Six research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $106.24.

Eastman Chemical Stock Performance

Shares of EMN traded up $0.51 on Friday, reaching $101.33. 998,089 shares of the stock traded hands, compared to its average volume of 633,705. The stock's 50-day moving average price is $99.02 and its 200-day moving average price is $90.99. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.39 and a quick ratio of 0.71. The firm has a market cap of $11.92 billion, a price-to-earnings ratio of 13.06, a P/E/G ratio of 1.10 and a beta of 1.54. Eastman Chemical has a 12 month low of $68.89 and a 12 month high of $102.71.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.41 by $0.20. The firm had revenue of $2.31 billion for the quarter, compared to analyst estimates of $2.29 billion. Eastman Chemical had a net margin of 10.16% and a return on equity of 13.84%. The business's revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.63 EPS. Equities analysts forecast that Eastman Chemical will post 7.75 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Monday, June 17th will be paid a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 3.20%. The ex-dividend date of this dividend is Monday, June 17th. Eastman Chemical's dividend payout ratio is 41.75%.

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.