Eastman Chemical Company $EMN Shares Purchased by Empowered Funds LLC

Key Points

• Empowered Funds LLC substantially increased its stake in Eastman Chemical, acquiring 81,458 shares in the first quarter, raising its ownership to approximately 0.09% of the company.
• Several analysts have recently adjusted their price targets for Eastman Chemical, with the average target now at $87.00, indicating a "Moderate Buy" rating by analysts.
• Eastman Chemical announced a quarterly dividend of $0.83, representing a dividend yield of 4.9%, with payments scheduled for October 7th.

Empowered Funds LLC increased its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 468.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 98,837 shares of the basic materials company's stock after purchasing an additional 81,458 shares during the quarter. Empowered Funds LLC owned about 0.09% of Eastman Chemical worth $8,709,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. National Pension Service lifted its stake in Eastman Chemical by 75.3% during the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after purchasing an additional 186 shares during the last quarter. Orion Capital Management LLC purchased a new position in Eastman Chemical during the 4th quarter valued at about $47,000. TD Private Client Wealth LLC increased its holdings in Eastman Chemical by 46.4% during the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 170 shares during the period. Wayfinding Financial LLC purchased a new position in shares of Eastman Chemical during the 1st quarter worth approximately $50,000. Finally, Salem Investment Counselors Inc. grew its holdings in shares of Eastman Chemical by 105.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after acquiring an additional 317 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.8%

NYSE EMN traded down $0.50 on Monday, hitting $65.83. The stock had a trading volume of 305,221 shares, compared to its average volume of 1,543,207. The business's fifty day moving average price is $70.58 and its 200 day moving average price is $77.87. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. The stock has a market cap of $7.56 billion, a price-to-earnings ratio of 9.25, a price-to-earnings-growth ratio of 6.47 and a beta of 1.26.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the previous year, the company posted $2.15 earnings per share. Eastman Chemical's revenue for the quarter was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities research analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is presently 46.63%.

Analysts Set New Price Targets

Several analysts recently weighed in on EMN shares. Citigroup cut their price target on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Royal Bank Of Canada lowered their price target on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. The Goldman Sachs Group reduced their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company cut their price target on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, UBS Group cut their price objective on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, Eastman Chemical has a consensus rating of "Moderate Buy" and an average target price of $87.00.

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.