Bearing Point Capital LLC Invests $918,000 in Eastman Chemical (NYSE:EMN)

Bearing Point Capital LLC purchased a new position in Eastman Chemical (NYSE:EMN - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 10,050 shares of the basic materials company's stock, valued at approximately $918,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Private Trust Co. NA raised its holdings in shares of Eastman Chemical by 14.0% during the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 103 shares during the period. Blue Trust Inc. lifted its stake in shares of Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company's stock valued at $503,000 after purchasing an additional 116 shares during the last quarter. Picton Mahoney Asset Management increased its holdings in shares of Eastman Chemical by 62.3% during the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after acquiring an additional 124 shares during the last quarter. Caprock Group LLC raised its position in shares of Eastman Chemical by 4.2% in the fourth quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock valued at $295,000 after purchasing an additional 128 shares during the period. Finally, Global Retirement Partners LLC lifted its position in Eastman Chemical by 1.4% during the 4th quarter. Global Retirement Partners LLC now owns 9,268 shares of the basic materials company's stock worth $846,000 after acquiring an additional 132 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

Shares of NYSE:EMN traded down $0.05 on Tuesday, reaching $76.17. 966,968 shares of the company's stock were exchanged, compared to its average volume of 1,048,557. Eastman Chemical has a twelve month low of $70.90 and a twelve month high of $114.50. The company has a fifty day moving average of $84.24 and a 200-day moving average of $93.37. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of 9.92, a PEG ratio of 1.22 and a beta of 1.29. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78.

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

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Friday, June 13th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 4.36%. The ex-dividend date is Friday, June 13th. Eastman Chemical's dividend payout ratio (DPR) is presently 42.24%.

Wall Street Analyst Weigh In

EMN has been the subject of several research reports. Mizuho raised Eastman Chemical from a "neutral" rating to an "outperform" rating and set a $105.00 price objective for the company in a research report on Thursday, April 3rd. Morgan Stanley lowered their price objective on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. KeyCorp cut their price target on shares of Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a report on Monday, April 28th. UBS Group decreased their target price on Eastman Chemical from $123.00 to $115.00 and set a "buy" rating on the stock in a report on Monday, April 7th. Finally, Citigroup raised Eastman Chemical from a "neutral" rating to a "buy" rating and cut their price target for the company from $105.00 to $101.00 in a report on Friday, April 4th. Six research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average 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.