Adams Natural Resources Fund Inc. Decreases Position in Eastman Chemical Company $EMN

Key Points

• Adams Natural Resources Fund Inc. reduced its holdings in Eastman Chemical by 19.1%, bringing its total shares to 33,100, worth approximately $2.47 million.
• Analysts have mixed views on Eastman Chemical, with Goldman Sachs reducing their price target from $87 to $65 and maintaining a "neutral" rating, while Citigroup raised theirs from $68 to $70, keeping a "buy" rating.
• Eastman Chemical announced a quarterly dividend of $0.83 per share with a yield of 5.3%, and reported lower earnings and revenue compared to the previous year.

Adams Natural Resources Fund Inc. cut its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 19.1% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 33,100 shares of the basic materials company's stock after selling 7,800 shares during the period. Adams Natural Resources Fund Inc.'s holdings in Eastman Chemical were worth $2,471,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Miller Howard Investments Inc. NY purchased a new position in shares of Eastman Chemical during the second quarter valued at approximately $26,212,000. Nuveen LLC purchased a new position in shares of Eastman Chemical during the first quarter valued at approximately $26,289,000. Atlantic Investment Management Inc. purchased a new position in shares of Eastman Chemical during the first quarter valued at approximately $22,167,000. Dimensional Fund Advisors LP raised its holdings in shares of Eastman Chemical by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company's stock valued at $228,042,000 after purchasing an additional 202,740 shares during the last quarter. Finally, Jones Financial Companies Lllp raised its holdings in shares of Eastman Chemical by 5,315.9% during the first quarter. Jones Financial Companies Lllp now owns 200,011 shares of the basic materials company's stock valued at $17,623,000 after purchasing an additional 196,318 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on EMN. The Goldman Sachs Group decreased their price objective on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Bank of America decreased their price objective on shares of Eastman Chemical from $78.00 to $74.00 and set a "buy" rating for the company in a report on Tuesday, October 14th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a report on Monday, August 4th. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Eastman Chemical in a report on Wednesday, October 8th. Finally, Citigroup upped their target price on shares of Eastman Chemical from $68.00 to $70.00 and gave the company a "buy" rating in a report on Thursday, October 2nd. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus target price of $82.62.

Eastman Chemical Stock Performance

Shares of NYSE EMN opened at $62.17 on Wednesday. The firm has a fifty day moving average price of $65.08 and a 200-day moving average price of $72.70. 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 stock has a market cap of $7.14 billion, a PE ratio of 8.73, a price-to-earnings-growth ratio of 6.21 and a beta of 1.29. Eastman Chemical Company has a 1 year low of $56.78 and a 1 year high of $108.03.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period last year, the company earned $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 15th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 5.3%. The ex-dividend date of this dividend was Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is presently 46.63%.

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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