Ellsworth Advisors LLC Takes Position 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 disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 52,071 shares of the basic materials company's stock, valued at approximately $4,588,000.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. lifted its position in shares of 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 acquiring an additional 8,708 shares in the last quarter. OneDigital Investment Advisors LLC lifted its holdings in shares of Eastman Chemical by 36.9% in 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 in the last quarter. Teacher Retirement System of Texas purchased a new stake in Eastman Chemical in the 1st quarter worth approximately $1,494,000. Farther Finance Advisors LLC lifted its stake in Eastman Chemical by 12.8% in the 1st quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock worth $167,000 after purchasing an additional 214 shares in the last quarter. Finally, Golden State Wealth Management LLC lifted its stake in Eastman Chemical by 882.3% in the 1st quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock worth $83,000 after purchasing an additional 847 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 1.1%

NYSE:EMN traded up $0.72 during trading hours on Tuesday, reaching $65.87. The company's stock had a trading volume of 285,176 shares, compared to its average volume of 1,540,958. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The firm has a market capitalization of $7.56 billion, a price-to-earnings ratio of 9.23, a PEG ratio of 6.47 and a beta of 1.26. The firm has a 50-day simple moving average of $70.32 and a 200-day simple moving average of $77.64. Eastman Chemical Company has a 1 year low of $56.78 and a 1 year high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted 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). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm earned $2.15 earnings per share. The business's revenue for the quarter was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

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 given a $0.83 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.32 annualized dividend and a yield of 5.0%. Eastman Chemical's payout ratio is presently 46.63%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on EMN shares. Royal Bank Of Canada lowered their price objective on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. The Goldman Sachs Group lowered their price target on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. UBS Group lowered 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 note on Wednesday, July 9th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. Finally, Wells Fargo & Company raised their price objective on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "overweight" rating in a research report on Tuesday. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.77.

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.