Bayforest Capital Ltd Boosts Stake in Eastman Chemical Company $EMN

Key Points

• Bayforest Capital Ltd significantly expanded its investment in Eastman Chemical Company by 1,282.4% during the first quarter, bringing its total holdings to 4,700 shares valued at $414,000.
• Eastman Chemical reported disappointing earnings for the last quarter, with an EPS of $1.60, missing estimates by $0.12, and a 3.2% decrease in revenue year-over-year.
• The company recently announced a quarterly dividend of $0.83 per share, translating to an annualized payout of $3.32 and a yield of 4.9% for investors.

Bayforest Capital Ltd increased its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 1,282.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 4,700 shares of the basic materials company's stock after purchasing an additional 4,360 shares during the quarter. Bayforest Capital Ltd's holdings in Eastman Chemical were worth $414,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Holderness Investments Co. lifted its stake in Eastman Chemical by 1.2% during the first quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company's stock worth $922,000 after purchasing an additional 125 shares in the last quarter. Y.D. More Investments Ltd raised its stake in shares of Eastman Chemical by 15.0% in the first quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company's stock valued at $92,000 after acquiring an additional 136 shares in the last quarter. Beverly Hills Private Wealth LLC raised its stake in shares of Eastman Chemical by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company's stock valued at $291,000 after acquiring an additional 143 shares in the last quarter. Prudent Man Advisors LLC raised its stake in shares of Eastman Chemical by 2.2% in the first quarter. Prudent Man Advisors LLC now owns 6,651 shares of the basic materials company's stock valued at $586,000 after acquiring an additional 144 shares in the last quarter. Finally, Burney Co. raised its stake in shares of Eastman Chemical by 0.9% in the first quarter. Burney Co. now owns 18,083 shares of the basic materials company's stock valued at $1,593,000 after acquiring an additional 154 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Trading Down 0.9%

EMN traded down $0.62 during trading on Monday, hitting $65.71. The company's stock had a trading volume of 383,913 shares, compared to its average volume of 1,543,698. The firm's 50 day moving average price is $70.58 and its 200-day moving average price is $77.87. 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 $7.55 billion, a PE ratio of 9.23, a PEG ratio of 6.47 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 quarterly earnings results 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). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the firm posted $2.15 earnings per share. The company's revenue was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

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

Wall Street Analyst Weigh In

A number of research firms have weighed in on EMN. Mizuho cut their price target 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. UBS Group cut their price target on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada dropped their price objective on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. KeyCorp set a $79.00 price objective on Eastman Chemical and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, The Goldman Sachs Group dropped their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price 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.