Eastman Chemical Company $EMN Shares Acquired by Numerai GP LLC

Key Points

• Numerai GP LLC boosted its stake in Eastman Chemical by 601.2% in Q3 to 37,551 shares (about $2.37M), while Invenomic raised holdings 119.9% to 131,690 shares, leaving institutional ownership at 83.65%.
• Eastman missed quarterly estimates with EPS of $0.75 (vs. $0.76) and reported revenue of $1.97 billion, down 12.1% year‑over‑year and below the $2.03 billion consensus.
• The company announced a quarterly dividend of $0.84 (annualized $3.36) for a yield of 4.8% (ex‑dividend date Mar 13, payable Apr 8), with a dividend payout ratio of 82.15%.

Numerai GP LLC increased its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 601.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,551 shares of the basic materials company's stock after buying an additional 32,196 shares during the period. Numerai GP LLC's holdings in Eastman Chemical were worth $2,368,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in EMN. Mariner LLC grew its holdings in Eastman Chemical by 11.9% during the 3rd quarter. Mariner LLC now owns 8,895 shares of the basic materials company's stock worth $561,000 after acquiring an additional 946 shares in the last quarter. Lombard Odier Asset Management USA Corp raised its stake in shares of Eastman Chemical by 47.6% in the 3rd quarter. Lombard Odier Asset Management USA Corp now owns 8,359 shares of the basic materials company's stock valued at $527,000 after purchasing an additional 2,694 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Eastman Chemical by 5.6% during the third quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 53,122 shares of the basic materials company's stock worth $3,349,000 after purchasing an additional 2,800 shares during the last quarter. Lido Advisors LLC grew its stake in Eastman Chemical by 2.7% in the third quarter. Lido Advisors LLC now owns 20,188 shares of the basic materials company's stock worth $1,289,000 after purchasing an additional 534 shares in the last quarter. Finally, Invenomic Capital Management LP increased its holdings in Eastman Chemical by 119.9% in the third quarter. Invenomic Capital Management LP now owns 131,690 shares of the basic materials company's stock valued at $8,303,000 after buying an additional 71,794 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Up 0.5%

NYSE:EMN opened at $69.58 on Tuesday. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $92.19. The firm has a market capitalization of $7.94 billion, a P/E ratio of 17.01, a P/E/G ratio of 1.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63. The business has a 50 day simple moving average of $72.81 and a 200 day simple moving average of $66.37.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a return on equity of 10.57% and a net margin of 5.42%.Eastman Chemical's quarterly revenue was down 12.1% on a year-over-year basis. During the same period in the prior year, the business earned $1.87 earnings per share. Equities research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 13th. Eastman Chemical's dividend payout ratio (DPR) is 82.15%.

Wall Street Analyst Weigh In

A number of research analysts have commented on EMN shares. JPMorgan Chase & Co. increased their target price on Eastman Chemical from $60.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, February 2nd. Weiss Ratings raised Eastman Chemical from a "sell (d+)" rating to a "hold (c)" rating in a research report on Wednesday, February 18th. Wells Fargo & Company reaffirmed an "equal weight" rating and issued a $70.00 price objective on shares of Eastman Chemical in a report on Friday, December 19th. Bank of America boosted their target price on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a "buy" rating in a research note on Monday, February 2nd. Finally, Deutsche Bank Aktiengesellschaft increased their target price on shares of Eastman Chemical from $64.00 to $72.00 and gave the stock a "hold" rating in a report on Monday, February 2nd. Seven investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $79.64.

Eastman Chemical Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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