Edmp Inc. Purchases 21,723 Shares of Eastman Chemical Company $EMN

Edmp Inc. grew its position in shares of Eastman Chemical Company (NYSE:EMN) by 94.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 44,602 shares of the basic materials company’s stock after buying an additional 21,723 shares during the quarter. Eastman Chemical accounts for approximately 2.2% of Edmp Inc.’s investment portfolio, making the stock its 14th biggest holding. Edmp Inc.’s holdings in Eastman Chemical were worth $2,812,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MUFG Securities EMEA plc purchased a new stake in shares of Eastman Chemical during the second quarter valued at approximately $25,000. MassMutual Private Wealth & Trust FSB grew its stake in Eastman Chemical by 65.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 146 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Eastman Chemical during the 2nd quarter valued at $32,000. Loomis Sayles & Co. L P bought a new stake in shares of Eastman Chemical during the 2nd quarter worth $33,000. Finally, Financial Consulate Inc. purchased a new position in shares of Eastman Chemical in the 3rd quarter worth about $42,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $64.00 on Friday. The firm has a market capitalization of $7.30 billion, a P/E ratio of 10.68, a PEG ratio of 6.90 and a beta of 1.23. Eastman Chemical Company has a one year low of $56.11 and a one year high of $103.82. 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 business has a fifty day moving average price of $61.67 and a 200-day moving average price of $66.53.

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

Eastman Chemical Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, January 8th. Investors of record on Monday, December 15th will be paid a dividend of $0.84 per share. 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%. The ex-dividend date of this dividend is Monday, December 15th. Eastman Chemical’s dividend payout ratio is presently 56.09%.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Royal Bank Of Canada set a $71.00 price objective on shares of Eastman Chemical in a report on Tuesday, October 14th. Weiss Ratings raised shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Wells Fargo & Company reiterated an “equal weight” rating and issued a $70.00 price objective on shares of Eastman Chemical in a research note on Friday, December 19th. Bank of America decreased their target price on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Finally, UBS Group dropped their price target on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $78.77.

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.