Kwmg LLC Increases Stake in Eastman Chemical Company $EMN

Key Points

• Kwmg LLC increased its stake in Eastman Chemical Company by 9.8%, now owning approximately 57,971 shares worth around $4.3 million.
• Eastman Chemical reported earnings of $1.60 per share for its latest quarter, missing expectations, and its quarterly revenue fell by 3.2% year-over-year.
• The company declared a quarterly dividend of $0.83, yielding 5.2%, with a payout ratio of 46.63%, indicating continued shareholder returns amidst recent financial challenges.

Kwmg LLC raised its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 9.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 57,971 shares of the basic materials company's stock after buying an additional 5,153 shares during the quarter. Kwmg LLC owned about 0.05% of Eastman Chemical worth $4,328,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Holderness Investments Co. grew its holdings in Eastman Chemical by 1.2% during the 1st quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company's stock valued at $922,000 after buying an additional 125 shares in the last quarter. CX Institutional grew its holdings in shares of Eastman Chemical by 10.6% in the second quarter. CX Institutional now owns 1,339 shares of the basic materials company's stock valued at $100,000 after purchasing an additional 128 shares in the last quarter. Wesbanco Bank Inc. grew its holdings in shares of Eastman Chemical by 3.3% in the second quarter. Wesbanco Bank Inc. now owns 4,109 shares of the basic materials company's stock valued at $307,000 after purchasing an additional 130 shares in the last quarter. Y.D. More Investments Ltd grew its holdings in shares of Eastman Chemical by 15.0% in the first quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company's stock valued at $92,000 after purchasing an additional 136 shares in the last quarter. Finally, Beverly Hills Private Wealth LLC grew its holdings in shares of Eastman Chemical by 4.5% in the first quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company's stock valued at $291,000 after purchasing an additional 143 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

EMN stock opened at $64.43 on Tuesday. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The business has a 50-day moving average price of $68.85 and a 200 day moving average price of $76.57. The company has a market capitalization of $7.40 billion, a P/E ratio of 9.05, a PEG ratio of 6.27 and a beta of 1.26. 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 released its quarterly earnings data 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 firm 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, equities research analysts forecast 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. Investors of record on Monday, September 15th will be issued a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date is Monday, September 15th. Eastman Chemical's payout ratio is presently 46.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on EMN shares. UBS Group cut their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Citigroup cut their target price on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a report on Monday, August 4th. The Goldman Sachs Group cut their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Mizuho cut their target price on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, KeyCorp set a $79.00 price target on Eastman Chemical and gave the stock an "overweight" rating in a research report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $87.77.

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.

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