Atlantic Investment Management Inc. Invests $22.17 Million in Eastman Chemical Company $EMN

Key Points

• Atlantic Investment Management Inc. has made a new investment in Eastman Chemical Company, acquiring 251,583 shares valued at approximately $22.17 million, which now constitutes 12.4% of their holdings.
• Recent analyst reports have seen several firms, including Mizuho and UBS Group, cut their price targets for Eastman Chemical, suggesting a range of $65.00 to $101.00 with a consensus target price of $87.00.
• Eastman Chemical announced a quarterly dividend of $0.83, resulting in an annual yield of 4.8%, with the payout ratio at 46.63%.

Atlantic Investment Management Inc. bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 251,583 shares of the basic materials company's stock, valued at approximately $22,167,000. Eastman Chemical accounts for about 12.4% of Atlantic Investment Management Inc.'s holdings, making the stock its 5th largest position. Atlantic Investment Management Inc. owned 0.22% of Eastman Chemical at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Principal Financial Group Inc. lifted its holdings in Eastman Chemical by 5.9% in the first quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company's stock valued at $13,702,000 after buying an additional 8,708 shares during the period. OneDigital Investment Advisors LLC grew its stake in shares of Eastman Chemical by 36.9% during the first quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company's stock worth $267,000 after purchasing an additional 816 shares during the period. Teacher Retirement System of Texas acquired a new stake in shares of Eastman Chemical during the first quarter worth $1,494,000. Farther Finance Advisors LLC grew its stake in shares of Eastman Chemical by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock worth $167,000 after purchasing an additional 214 shares during the period. Finally, Golden State Wealth Management LLC grew its stake in shares of Eastman Chemical by 882.3% during the first quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock worth $83,000 after purchasing an additional 847 shares during the period. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Up 0.5%

Shares of NYSE:EMN traded up $0.37 during midday trading on Friday, reaching $68.97. 1,172,170 shares of the company were exchanged, compared to its average volume of 1,268,242. Eastman Chemical Company has a fifty-two week low of $56.78 and a fifty-two week high of $114.50. 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 stock has a fifty day simple moving average of $71.71 and a two-hundred day simple moving average of $79.09. The firm has a market cap of $7.92 billion, a PE ratio of 9.69, a P/E/G ratio of 6.60 and a beta of 1.25.

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

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is currently 46.63%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on EMN shares. The Goldman Sachs Group decreased their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company decreased their price objective on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. KeyCorp set a $79.00 price objective on Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Mizuho decreased their price objective on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Finally, Citigroup decreased their target price on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Eight equities research 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, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $87.00.

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.