Eastman Chemical Company $EMN Stock Position Lifted by Erste Asset Management GmbH

Key Points

• Erste Asset Management GmbH increased its stake in Eastman Chemical Company by 8.5% during the first quarter, owning 63,800 shares valued at approximately $5.55 million.
• Several institutional investors, including the National Pension Service and TD Private Client Wealth LLC, have significantly raised their holdings in Eastman Chemical, indicating strong interest among hedge funds.
• Analysts have set varied price targets for Eastman Chemical, with estimates ranging from $65.00 to $115.00, reflecting mixed opinions on the stock's performance amidst recent earnings misses.

Erste Asset Management GmbH grew its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 8.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 63,800 shares of the basic materials company's stock after purchasing an additional 5,000 shares during the quarter. Erste Asset Management GmbH owned approximately 0.06% of Eastman Chemical worth $5,554,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in EMN. EntryPoint Capital LLC acquired a new position in shares of Eastman Chemical during the first quarter valued at about $523,000. Credit Agricole S A boosted its position in Eastman Chemical by 6.3% in the 1st quarter. Credit Agricole S A now owns 32,680 shares of the basic materials company's stock worth $2,879,000 after purchasing an additional 1,934 shares in the last quarter. Banco Bilbao Vizcaya Argentaria S.A. raised its stake in shares of Eastman Chemical by 3.8% during the 1st quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 26,346 shares of the basic materials company's stock worth $2,321,000 after buying an additional 973 shares during the period. HITE Hedge Asset Management LLC acquired a new position in shares of Eastman Chemical during the 1st quarter worth approximately $4,752,000. Finally, Fuller & Thaler Asset Management Inc. raised its stake in Eastman Chemical by 36.3% in the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 7,290 shares of the basic materials company's stock valued at $642,000 after purchasing an additional 1,940 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 0.4%

EMN traded down $0.31 on Tuesday, reaching $68.16. 251,287 shares of the company's stock were exchanged, compared to its average volume of 1,547,017. The company's 50 day moving average is $72.87 and its 200-day moving average is $80.97. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 6.63 and a beta of 1.21. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing analysts' consensus estimates 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 prior year, the company posted $2.15 EPS. The company'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. Equities analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is currently 46.63%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. UBS Group cut their target price on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada lowered their price target on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. The Goldman Sachs Group reduced their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. Finally, Morgan Stanley cut their price target on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, Eastman Chemical currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

About Eastman Chemical

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.