City Center Advisors LLC Purchases New Position in Eastman Chemical Company $EMN

Key Points

• City Center Advisors LLC acquired a new stake in Eastman Chemical Company, purchasing 4,148 shares valued at approximately $310,000 during the 2nd quarter.
• Eastman Chemical reported earnings per share of $1.60 for the last quarter, missing analysts' expectations and experiencing a 3.2% decline in year-over-year revenue.
• The company announced a quarterly dividend of $0.83 per share, translating to a 5.0% dividend yield for its stockholders.

City Center Advisors LLC purchased a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,148 shares of the basic materials company's stock, valued at approximately $310,000.

Other large investors have also added to or reduced their stakes in the company. National Pension Service lifted its position in shares of Eastman Chemical by 75.3% during the 1st quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after buying an additional 186 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Eastman Chemical during the 4th quarter worth approximately $47,000. TD Private Client Wealth LLC lifted its position in shares of Eastman Chemical by 46.4% during the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after buying an additional 170 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Eastman Chemical during the 1st quarter worth approximately $50,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Eastman Chemical by 105.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after buying an additional 317 shares in the last quarter. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Down 1.3%

Shares of EMN stock opened at $67.07 on Friday. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $114.50. The firm has a market cap of $7.70 billion, a P/E ratio of 9.42, a PEG ratio of 6.54 and a beta of 1.25. 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 company has a 50 day moving average of $70.58 and a 200-day moving average of $78.14.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share 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 business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the prior year, the firm posted $2.15 earnings per share. The firm's quarterly 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. Sell-side analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

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 issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's payout ratio is currently 46.63%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Mizuho dropped their target price on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Royal Bank Of Canada dropped their target price on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. UBS Group dropped their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. Wells Fargo & Company dropped their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a research report on Monday, August 4th. Finally, Citigroup decreased their price target on shares of 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 research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

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.

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