Eastman Chemical Company $EMN Shares Sold by Universal Beteiligungs und Servicegesellschaft mbH

Key Points

• Universal Beteiligungs und Servicegesellschaft mbH cut its stake in Eastman Chemical by 35.9% in Q4, selling 30,464 shares and ending the period with 54,459 shares worth $3.495 million.
• Eastman missed Q4 expectations, reporting EPS of $0.75 vs. $0.76 expected and revenue of $1.97 billion vs. $2.03 billion, with revenue down 12.1% year-over-year.
• The company pays a quarterly dividend of $0.84 (annualized $3.36) for a 4.8% yield

Universal Beteiligungs und Servicegesellschaft mbH decreased its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 35.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 54,459 shares of the basic materials company's stock after selling 30,464 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH's holdings in Eastman Chemical were worth $3,495,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in EMN. MUFG Securities EMEA plc acquired a new stake in Eastman Chemical in the second quarter valued at about $25,000. Brown Lisle Cummings Inc. lifted its position in Eastman Chemical by 70.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 175 shares during the period. Lodestone Wealth Management LLC acquired a new stake in Eastman Chemical in the fourth quarter valued at about $33,000. Rothschild Investment LLC lifted its position in Eastman Chemical by 65.6% in the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company's stock valued at $36,000 after purchasing an additional 229 shares during the period. Finally, Capital Advisors Ltd. LLC lifted its position in Eastman Chemical by 97.7% in the fourth quarter. Capital Advisors Ltd. LLC now owns 609 shares of the basic materials company's stock valued at $39,000 after purchasing an additional 301 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

EMN stock opened at $70.33 on Thursday. The firm has a 50 day moving average of $72.68 and a 200-day moving average of $67.97. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $84.18. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The company has a market cap of $8.02 billion, a price-to-earnings ratio of 17.20, a PEG ratio of 0.97 and a beta of 1.16.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.76 by ($0.01). Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The company had revenue of $1.97 billion for the quarter, compared to analyst estimates of $2.03 billion. During the same quarter in the previous year, the business posted $1.87 earnings per share. Eastman Chemical's revenue was down 12.1% on a year-over-year basis. As a group, equities analysts expect that Eastman Chemical Company will post 5.85 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, March 13th. Eastman Chemical's dividend payout ratio (DPR) is presently 82.15%.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of recent analyst reports. Bank of America raised their price objective on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a "buy" rating in a research report on Monday, February 2nd. Citigroup reduced their price objective on shares of Eastman Chemical from $84.00 to $83.00 and set a "buy" rating for the company in a research report on Thursday, April 16th. Zacks Research upgraded shares of Eastman Chemical from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Eastman Chemical from $64.00 to $72.00 and gave the company a "hold" rating in a research report on Monday, February 2nd. Finally, Royal Bank Of Canada restated a "sector perform" rating and issued a $79.00 price objective on shares of Eastman Chemical in a research report on Wednesday, February 4th. Six equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Eastman Chemical has an average rating of "Hold" and an average target price of $76.36.

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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