Bearing Point Capital LLC Buys Shares of 10,050 Eastman Chemical (NYSE:EMN)

Bearing Point Capital LLC bought a new stake in shares of Eastman Chemical (NYSE:EMN - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 10,050 shares of the basic materials company's stock, valued at approximately $918,000.

A number of other large investors have also bought and sold shares of EMN. Crews Bank & Trust bought a new stake in Eastman Chemical during the 4th quarter valued at $27,000. Picton Mahoney Asset Management raised its holdings in shares of Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock worth $29,000 after acquiring an additional 124 shares during the last quarter. Assetmark Inc. lifted its position in Eastman Chemical by 384.4% in the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after acquiring an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC acquired a new position in Eastman Chemical during the 4th quarter valued at about $35,000. Finally, Stonebridge Financial Group LLC bought a new stake in Eastman Chemical during the 4th quarter worth approximately $37,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Trading Up 0.5 %

Shares of Eastman Chemical stock traded up $0.35 during trading on Friday, reaching $77.80. 629,972 shares of the stock were exchanged, compared to its average volume of 1,051,958. The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The firm has a market cap of $8.98 billion, a price-to-earnings ratio of 10.13, a price-to-earnings-growth ratio of 1.22 and a beta of 1.29. Eastman Chemical has a 1 year low of $70.90 and a 1 year high of $114.50. The stock's fifty day moving average is $83.45 and its 200 day moving average is $93.04.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping analysts' consensus estimates of $1.89 by $0.02. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. During the same period last year, the company earned $1.61 EPS. The business's quarterly revenue was down .9% compared to the same quarter last year. As a group, equities research analysts expect that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.27%. The ex-dividend date of this dividend is Friday, June 13th. Eastman Chemical's dividend payout ratio is currently 42.24%.

Analyst Upgrades and Downgrades

EMN has been the topic of several analyst reports. Barclays cut their target price on Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their price target for the company from $105.00 to $101.00 in a research report on Friday, April 4th. KeyCorp reduced their price objective on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. The Goldman Sachs Group cut their price objective on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating for the company in a research report on Monday, April 28th. Finally, Wells Fargo & Company lowered their target price on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a research note on Wednesday, April 9th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eastman Chemical currently has an average rating of "Moderate Buy" and a consensus price target of $99.15.

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.