Eastman Chemical Company $EMN Shares Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. significantly increased its stake in Eastman Chemical Company by 414.6% during the second quarter, now owning 164,078 shares valued at $12.25 million.
• Eastman Chemical reported earnings per share of $1.60 for the last quarter, missing analysts' estimates by $0.12, with revenue also down 3.2% year-over-year.
• The company announced a quarterly dividend of $0.83 per share, with a current dividend yield of 5.2% and a payout ratio of 46.63%.

Assenagon Asset Management S.A. boosted its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 414.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 164,078 shares of the basic materials company's stock after buying an additional 132,196 shares during the quarter. Assenagon Asset Management S.A. owned 0.14% of Eastman Chemical worth $12,250,000 as of its most recent filing with the Securities and Exchange Commission.

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on EMN. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the company an "overweight" rating in a research report on Monday, August 4th. UBS Group lowered their price target 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. Royal Bank Of Canada lowered their price target 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. Citigroup lowered their price target on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Finally, Mizuho lowered their price target 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. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.77.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $64.43 on Tuesday. The company's fifty day simple moving average is $68.85 and its 200-day simple moving average is $76.57. The company has a market cap of $7.40 billion, a PE ratio of 9.05, a P/E/G ratio of 6.27 and a beta of 1.26. Eastman Chemical Company has a 52 week low of $56.78 and a 52 week high of $114.50. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings results 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). The firm had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. Eastman Chemical's revenue for the quarter was down 3.2% on a year-over-year basis. During the same period in the previous year, the business posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, equities research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 5.2%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is currently 46.63%.

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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