Eastman Chemical Sees Unusually Large Options Volume (NYSE:EMN)

Key Points

• Eastman Chemical experienced a significant spike in options trading, with a reported 10,074 put options purchased, marking a 700% increase over the average volume.
• The company recently revealed its earnings, reporting $1.60 EPS, which was below analysts' expectations of $1.72, along with a revenue decline of 3.2% compared to the prior year.
• Eastman Chemical declared a quarterly dividend of $0.83, reflecting an annualized yield of 5.5% and a dividend payout ratio of 46.63%.

Eastman Chemical Company (NYSE:EMN - Get Free Report) saw unusually large options trading activity on Friday. Investors purchased 10,074 put options on the company. This represents an increase of approximately 700% compared to the average volume of 1,260 put options.

Eastman Chemical Price Performance

EMN stock traded up $0.67 during midday trading on Friday, hitting $60.83. The company's stock had a trading volume of 357,120 shares, compared to its average volume of 1,532,053. Eastman Chemical has a 12 month low of $56.78 and a 12 month high of $110.05. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $6.98 billion, a price-to-earnings ratio of 8.53, a price-to-earnings-growth ratio of 6.12 and a beta of 1.29. The company has a 50 day moving average of $65.10 and a two-hundred day moving average of $73.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm's revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 15th were given a $0.83 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a yield of 5.5%. Eastman Chemical's dividend payout ratio (DPR) is currently 46.63%.

Institutional Trading of Eastman Chemical

Institutional investors have recently bought and sold shares of the stock. Norges Bank purchased a new position in Eastman Chemical in the second quarter valued at about $121,060,000. Qube Research & Technologies Ltd boosted its holdings in Eastman Chemical by 1,456.4% in the second quarter. Qube Research & Technologies Ltd now owns 708,290 shares of the basic materials company's stock worth $52,881,000 after acquiring an additional 662,783 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in Eastman Chemical in the second quarter worth about $42,547,000. Miller Howard Investments Inc. NY acquired a new stake in Eastman Chemical in the second quarter worth about $26,212,000. Finally, Nuveen LLC acquired a new stake in Eastman Chemical in the first quarter worth about $26,289,000. 83.65% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on EMN. Royal Bank Of Canada set a $71.00 price target on shares of Eastman Chemical in a research note on Tuesday. Bank of America dropped their price target on shares of Eastman Chemical from $78.00 to $74.00 and set a "buy" rating on the stock in a research note on Tuesday. Mizuho lowered 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 note on Friday, October 3rd. The Goldman Sachs Group lowered their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Finally, KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $82.62.

About Eastman Chemical

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.

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