Assenagon Asset Management S.A. Has $1.40 Million Holdings in Eastman Chemical Company $EMN

Assenagon Asset Management S.A. trimmed its stake in Eastman Chemical Company (NYSE:EMN) by 86.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 22,185 shares of the basic materials company’s stock after selling 141,893 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Eastman Chemical were worth $1,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. City Center Advisors LLC raised its position in Eastman Chemical by 76.8% in the 3rd quarter. City Center Advisors LLC now owns 7,335 shares of the basic materials company’s stock valued at $462,000 after buying an additional 3,187 shares during the last quarter. Heartwood Wealth Advisors LLC purchased a new stake in Eastman Chemical in the 3rd quarter worth approximately $44,000. Caldwell Trust Co bought a new position in Eastman Chemical in the 2nd quarter worth about $373,000. Osaic Holdings Inc. lifted its position in Eastman Chemical by 42.6% during the second quarter. Osaic Holdings Inc. now owns 49,280 shares of the basic materials company’s stock valued at $3,683,000 after purchasing an additional 14,732 shares during the last quarter. Finally, Orion Porfolio Solutions LLC raised its position in Eastman Chemical by 26.3% during the second quarter. Orion Porfolio Solutions LLC now owns 20,490 shares of the basic materials company’s stock valued at $1,530,000 after purchasing an additional 4,262 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on EMN shares. Mizuho decreased their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Royal Bank Of Canada set a $71.00 target price on Eastman Chemical in a report on Tuesday, October 14th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $70.00 target price on shares of Eastman Chemical in a research note on Friday, December 19th. Citigroup lifted their target price on shares of Eastman Chemical from $70.00 to $72.00 and gave the stock a “buy” rating in a report on Thursday, December 18th. Finally, Evercore ISI dropped their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat.com, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $78.77.

Eastman Chemical Trading Up 0.6%

Shares of EMN opened at $62.86 on Thursday. The company has a 50 day simple moving average of $61.41 and a two-hundred day simple moving average of $67.09. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $103.82. The firm has a market cap of $7.17 billion, a P/E ratio of 10.49, a price-to-earnings-growth ratio of 6.75 and a beta of 1.24. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data 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). The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, December 15th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. This represents a $3.36 annualized dividend and a yield of 5.3%. Eastman Chemical’s payout ratio is presently 56.09%.

Eastman Chemical 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.