Meiji Yasuda Asset Management Co Ltd. Boosts Position in Eastman Chemical Company $EMN

Key Points

• Meiji Yasuda Asset Management Co Ltd. increased its holdings in Eastman Chemical by 256.8%, acquiring an additional 9,360 shares to total 13,005 shares valued at $1,146,000.
• Eastman Chemical has faced analyst downgrades, with UBS lowering their price target from $107 to $101, while Citigroup cut theirs from $90 to $68, although eight analysts still rate the stock as a Buy.
• The company recently announced a quarterly dividend of $0.83 per share, reflecting a 4.9% dividend yield and a payout ratio of 46.63%.

Meiji Yasuda Asset Management Co Ltd. boosted its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 256.8% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,005 shares of the basic materials company's stock after purchasing an additional 9,360 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.'s holdings in Eastman Chemical were worth $1,146,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of EMN. National Pension Service increased 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 acquiring an additional 186 shares during the last quarter. Orion Capital Management LLC bought a new position in Eastman Chemical during the fourth quarter valued at $47,000. TD Private Client Wealth LLC increased its position in 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 acquiring an additional 170 shares during the last quarter. Wayfinding Financial LLC bought a new position in Eastman Chemical during the first quarter valued at $50,000. Finally, Salem Investment Counselors Inc. increased its position in Eastman Chemical by 105.3% during the first quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock valued at $55,000 after acquiring an additional 317 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on EMN. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the company an "overweight" rating in a research report on Monday, August 4th. UBS Group cut 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. Royal Bank Of Canada cut their price objective on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Mizuho cut their price target on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Finally, Wells Fargo & Company cut their price target on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $87.00.

Eastman Chemical Stock Down 1.0%

Shares of EMN stock traded down $0.66 during mid-day trading on Monday, hitting $65.68. 243,330 shares of the stock traded hands, compared to its average volume of 1,542,833. The stock has a market cap of $7.54 billion, a P/E ratio of 9.22, a P/E/G ratio of 6.47 and a beta of 1.26. The stock's fifty day moving average is $70.58 and its two-hundred day moving average is $77.87. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. 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 (NYSE:EMN - Get Free Report) last announced its quarterly earnings data 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). The company had revenue of $2.29 billion during the quarter, compared to analysts' expectations 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 for the quarter was down 3.2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.15 earnings per share. 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 EPS for the current year.

Eastman Chemical Dividend Announcement

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

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.