Ellsworth Advisors LLC Invests $4.59 Million in Eastman Chemical Company $EMN

Key Points

• Ellsworth Advisors LLC has invested approximately $4.59 million in Eastman Chemical Company by acquiring 52,071 shares in the first quarter.
• A variety of institutional investors have increased their stakes in Eastman Chemical, with institutional ownership now at 83.65% of the company's stock.
• Eastman Chemical recently reported earnings, missing consensus estimates, and also announced a $0.83 quarterly dividend with a yield of 5.1%.

Ellsworth Advisors LLC acquired a new stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 52,071 shares of the basic materials company's stock, valued at approximately $4,588,000.

A number of other hedge funds also recently bought and sold shares of EMN. 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 valued at $13,702,000 after acquiring an additional 8,708 shares during the last quarter. OneDigital Investment Advisors LLC raised its stake in shares of 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 acquiring an additional 816 shares in the last quarter. Teacher Retirement System of Texas purchased a new position in shares of Eastman Chemical during the first quarter worth approximately $1,494,000. Farther Finance Advisors LLC raised its stake in shares of Eastman Chemical by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock worth $167,000 after acquiring an additional 214 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its stake in shares of Eastman Chemical by 882.3% during the first quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock worth $83,000 after acquiring an additional 847 shares in the last quarter. Institutional investors own 83.65% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on EMN shares. Citigroup decreased 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 note on Monday, August 4th. Mizuho decreased 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 note on Friday, August 1st. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. UBS Group decreased 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 note on Wednesday, July 9th. Finally, Wells Fargo & Company cut their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $87.00.

Eastman Chemical Stock Performance

NYSE:EMN opened at $65.04 on Thursday. The stock has a market cap of $7.47 billion, a P/E ratio of 9.13, a price-to-earnings-growth ratio of 6.46 and a beta of 1.25. The firm's fifty day simple moving average is $71.08 and its 200 day simple moving average is $78.56. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.68 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 the consensus estimate of $1.72 by ($0.12). The company had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business's revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the firm earned $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

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

Eastman Chemical 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.