Cumberland Partners Ltd Grows Stock Holdings in Eastman Chemical (NYSE:EMN)

Cumberland Partners Ltd lifted its position in Eastman Chemical (NYSE:EMNFree Report) by 22.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 63,125 shares of the basic materials company’s stock after purchasing an additional 11,590 shares during the quarter. Cumberland Partners Ltd’s holdings in Eastman Chemical were worth $5,765,000 at the end of the most recent quarter.

Several other institutional investors have also recently modified their holdings of EMN. Crews Bank & Trust purchased a new stake in Eastman Chemical in the fourth quarter worth approximately $27,000. Dunhill Financial LLC lifted its holdings in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock worth $37,000 after acquiring an additional 162 shares during the last quarter. Northwest Investment Counselors LLC purchased a new stake in shares of Eastman Chemical in the 3rd quarter valued at $38,000. Stonebridge Financial Group LLC bought a new position in shares of Eastman Chemical during the 4th quarter valued at $37,000. Finally, Exchange Traded Concepts LLC raised its position in Eastman Chemical by 784.4% in the 3rd quarter. Exchange Traded Concepts LLC now owns 681 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 604 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

EMN has been the subject of several analyst reports. KeyCorp upped 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. Wells Fargo & Company upgraded Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $110.00 to $125.00 in a report on Tuesday, November 26th. StockNews.com raised Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Piper Sandler raised their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a “neutral” rating in a report on Thursday, February 13th. Finally, UBS Group lowered their price target on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating for the company in a report on Friday, January 31st. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $114.08.

View Our Latest Analysis on EMN

Insiders Place Their Bets

In other Eastman Chemical news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction 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 completion of the transaction, the executive vice president now owns 47,287 shares in the company, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $471,623.04. Following the completion of the sale, the senior vice president now directly 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 disclosure for this sale can be found here. 1.93% of the stock is owned by corporate insiders.

Eastman Chemical Trading Down 2.1 %

Shares of EMN opened at $101.32 on Thursday. Eastman Chemical has a 1-year low of $83.72 and a 1-year high of $114.50. The company has a current ratio of 1.52, a quick ratio of 0.78 and a debt-to-equity ratio of 0.80. The firm’s 50-day moving average price is $94.40 and its 200-day moving average price is $100.17. The firm has a market capitalization of $11.74 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.23 and a beta of 1.44.

Eastman Chemical (NYSE:EMNGet Free Report) last posted its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share 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%. Sell-side analysts anticipate that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 7th. Investors of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a yield of 3.28%. Eastman Chemical’s payout ratio is 43.23%.

About Eastman Chemical

(Free Report)

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.

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Institutional Ownership by Quarter for Eastman Chemical (NYSE:EMN)

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