Strs Ohio Purchases New Stake in Eastman Chemical Company $EMN

Key Points

• Strs Ohio has acquired 21,773 shares in Eastman Chemical Company, valued at approximately $1.9 million, highlighting interest from institutional investors in the company.
• Eastman Chemical reported a missed earnings estimate, posting $1.60 EPS against an expected $1.72, and revenue of $2.29 billion, which was below expectations.
• The company declared a quarterly dividend of $0.83 per share, providing shareholders with a 5.1% dividend yield, which reflects a payout ratio of 46.63%.

Strs Ohio acquired a new stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 21,773 shares of the basic materials company's stock, valued at approximately $1,918,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. National Pension Service raised its stake in shares of Eastman Chemical by 75.3% during the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 186 shares in the last quarter. Orion Capital Management LLC acquired a new position in Eastman Chemical during the fourth quarter worth about $47,000. TD Private Client Wealth LLC grew its holdings in Eastman Chemical by 46.4% during the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after acquiring an additional 170 shares during the period. Wayfinding Financial LLC acquired a new position in Eastman Chemical during the first quarter worth about $50,000. Finally, Salem Investment Counselors Inc. grew its holdings in Eastman Chemical by 105.3% during the first quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after acquiring an additional 317 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

Shares of NYSE EMN traded down $1.33 during trading hours on Friday, reaching $65.13. The stock had a trading volume of 3,136,912 shares, compared to its average volume of 1,348,881. The business's fifty day moving average is $69.14 and its two-hundred day moving average is $77.09. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The company has a market cap of $7.48 billion, a price-to-earnings ratio of 9.15, a PEG ratio of 6.40 and a beta of 1.25. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued 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). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the company posted $2.15 earnings per share. The business's revenue for the quarter was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 5.1%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio is currently 46.63%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on EMN shares. Citigroup dropped their price target on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. The Goldman Sachs Group lowered their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Wells Fargo & Company lifted their target price on Eastman Chemical from $70.00 to $80.00 and gave the company an "overweight" rating in a research note on Tuesday. Mizuho lowered their target price on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, KeyCorp set a $79.00 target price on Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.77.

Eastman Chemical Company 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.