James J. Burns & Company LLC Invests $741,000 in Eastman Chemical (NYSE:EMN)

James J. Burns & Company LLC acquired a new stake in Eastman Chemical (NYSE:EMN - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 8,115 shares of the basic materials company's stock, valued at approximately $741,000.

A number of other large investors also recently bought and sold shares of EMN. Cetera Investment Advisers boosted its stake in shares of Eastman Chemical by 1.5% in the second quarter. Cetera Investment Advisers now owns 48,391 shares of the basic materials company's stock worth $4,741,000 after acquiring an additional 700 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in Eastman Chemical during the second quarter worth $2,045,000. Massmutual Trust Co. FSB ADV raised its position in Eastman Chemical by 52.6% in the third quarter. Massmutual Trust Co. FSB ADV now owns 537 shares of the basic materials company's stock valued at $60,000 after purchasing an additional 185 shares during the period. Czech National Bank lifted its position in Eastman Chemical by 6.2% in the third quarter. Czech National Bank now owns 23,813 shares of the basic materials company's stock valued at $2,666,000 after buying an additional 1,394 shares during the last quarter. Finally, Handelsbanken Fonder AB boosted its position in shares of Eastman Chemical by 26.7% during the 3rd quarter. Handelsbanken Fonder AB now owns 29,900 shares of the basic materials company's stock worth $3,347,000 after purchasing an additional 6,300 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Insider Buying and Selling

In other Eastman Chemical news, SVP Julie A. Mcalindon sold 4,456 shares of the company's stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total value of $471,623.04. Following the completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. This trade represents a 18.18 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 2.28% of the company's stock.

Eastman Chemical Stock Performance

Shares of EMN stock traded down $2.06 on Friday, hitting $99.20. 722,422 shares of the stock traded hands, compared to its average volume of 1,173,465. The company has a market capitalization of $11.50 billion, a PE ratio of 12.92, a PEG ratio of 0.73 and a beta of 1.44. The company's fifty day moving average is $94.53 and its 200 day moving average is $100.09. The company has a debt-to-equity ratio of 0.80, a current ratio of 1.52 and a quick ratio of 0.78. Eastman Chemical has a 1-year low of $81.00 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. On average, equities research analysts predict that Eastman Chemical will post 8.46 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were given a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.35%. This is a boost from Eastman Chemical's previous quarterly dividend of $0.81. The ex-dividend date of this dividend was Monday, December 16th. Eastman Chemical's dividend payout ratio is presently 43.23%.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on EMN shares. StockNews.com raised Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, January 18th. Wells Fargo & Company upgraded Eastman Chemical from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $110.00 to $125.00 in a research note on Tuesday, November 26th. JPMorgan Chase & Co. raised their price objective on Eastman Chemical from $110.00 to $112.00 and gave the stock an "overweight" rating in a report on Monday. Mizuho raised their price objective on shares of Eastman Chemical from $113.00 to $117.00 and gave the stock a "neutral" rating in a research report on Tuesday, November 26th. Finally, Piper Sandler decreased their price target on Eastman Chemical from $105.00 to $102.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $113.54.

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.