Gateway Investment Advisers LLC Increases Holdings in Eastman Chemical Company $EMN

Key Points

• Gateway Investment Advisers LLC increased its stake in Eastman Chemical Company by 14.0% during the 2nd quarter, bringing its total ownership to 41,420 shares worth approximately $3.09 million.
• Eastman Chemical reported a miss on earnings with EPS of $1.60, falling short of analysts' expectations by $0.12, alongside revenues of $2.29 billion, which also did not meet forecasts.
• A recent dividend of $0.83 has been declared for Eastman Chemical shareholders, reflecting an annualized yield of 5.0% and a payout ratio of 46.63%.

Gateway Investment Advisers LLC raised its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 14.0% in the second quarter, according to its most recent filing with the SEC. The firm owned 41,420 shares of the basic materials company's stock after purchasing an additional 5,090 shares during the quarter. Gateway Investment Advisers LLC's holdings in Eastman Chemical were worth $3,092,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Eastman Chemical by 65.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 146 shares in the last quarter. National Pension Service raised its position in Eastman Chemical by 75.3% during the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 186 shares during the period. 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 grew its holdings in shares of Eastman Chemical by 46.4% during the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock valued at $47,000 after buying an additional 170 shares during the last quarter. Finally, Wayfinding Financial LLC purchased a new position in Eastman Chemical in the 1st quarter valued at $50,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

EMN has been the topic of several research reports. UBS Group lowered their price objective on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research report on Wednesday, July 9th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the stock an "overweight" rating in a report on Monday, August 4th. Citigroup cut their price objective on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, August 4th. Royal Bank Of Canada lowered their price objective 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. Finally, Wells Fargo & Company upped their price target on Eastman Chemical from $70.00 to $80.00 and gave the stock an "overweight" rating in a research report on Tuesday, September 16th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.77.

Eastman Chemical Stock Performance

EMN stock traded down $1.33 during trading on Friday, hitting $65.13. 3,136,912 shares of the company's stock traded hands, compared to its average volume of 1,348,881. The stock has a market capitalization of $7.48 billion, a price-to-earnings ratio of 9.15, a price-to-earnings-growth ratio of 6.27 and a beta of 1.25. 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 Company has a 52 week low of $56.78 and a 52 week high of $114.50. The stock has a fifty day moving average price of $69.14 and a two-hundred day moving average price of $76.95.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its 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 analyst estimates of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The firm's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

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

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.