Board of the Pension Protection Fund Takes Position in Eastman Chemical Company $EMN

Board of the Pension Protection Fund purchased a new position in shares of Eastman Chemical Company (NYSE:EMN) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,200 shares of the basic materials company’s stock, valued at approximately $643,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. CX Institutional lifted its holdings in Eastman Chemical by 10.6% during the 2nd quarter. CX Institutional now owns 1,339 shares of the basic materials company’s stock worth $100,000 after buying an additional 128 shares during the period. Wesbanco Bank Inc. raised its position in shares of Eastman Chemical by 3.3% during the second quarter. Wesbanco Bank Inc. now owns 4,109 shares of the basic materials company’s stock worth $307,000 after acquiring an additional 130 shares during the last quarter. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Eastman Chemical by 65.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock worth $28,000 after acquiring an additional 146 shares during the period. Amalgamated Bank boosted its holdings in Eastman Chemical by 0.8% in the second quarter. Amalgamated Bank now owns 22,291 shares of the basic materials company’s stock valued at $1,664,000 after acquiring an additional 168 shares during the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock valued at $644,000 after acquiring an additional 183 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the stock. Evercore ISI lowered their price target on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a report on Tuesday, November 11th. Royal Bank Of Canada set a $71.00 target price on shares of Eastman Chemical in a research note on Tuesday, October 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 price target on shares of Eastman Chemical in a research report on Friday. UBS Group decreased their price target on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Finally, Bank of America dropped their price objective on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $78.77.

Eastman Chemical Price Performance

EMN stock opened at $63.56 on Friday. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. The company’s 50-day moving average is $61.26 and its 200-day moving average is $67.53. The stock has a market capitalization of $7.25 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 6.93 and a beta of 1.24. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $103.82.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same period last year, the company posted $2.26 earnings per share. The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Equities research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be paid a dividend of $0.84 per share. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.83. The ex-dividend date is Monday, December 15th. This represents a $3.36 dividend on an annualized basis and a yield of 5.3%. Eastman Chemical’s dividend payout ratio (DPR) is presently 56.09%.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.