Meiji Yasuda Asset Management Co Ltd. Has $1.15 Million Stake 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. increased its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 256.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 13,005 shares of the basic materials company's stock after buying an additional 9,360 shares during the period. Meiji Yasuda Asset Management Co Ltd.'s holdings in Eastman Chemical were worth $1,146,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EMN. GAMMA Investing LLC boosted its holdings in Eastman Chemical by 11,261.1% in the first quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company's stock worth $42,023,000 after purchasing an additional 472,741 shares in the last quarter. Nuveen LLC bought a new stake in Eastman Chemical in the first quarter worth $26,289,000. Atlantic Investment Management Inc. bought a new stake in Eastman Chemical in the first quarter worth $22,167,000. Dimensional Fund Advisors LP boosted its holdings in Eastman Chemical by 8.5% in the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company's stock worth $228,042,000 after purchasing an additional 202,740 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in Eastman Chemical by 5,315.9% in the first quarter. Jones Financial Companies Lllp now owns 200,011 shares of the basic materials company's stock worth $17,623,000 after purchasing an additional 196,318 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. The Goldman Sachs Group decreased their price objective 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 research report on Friday, August 1st. 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 research 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 research report on Monday, August 4th. Finally, Wells Fargo & Company dropped their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a research 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 company has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Eastman Chemical Stock Performance

Shares of EMN traded down $0.86 during trading hours on Friday, reaching $67.07. 1,631,061 shares of the company traded hands, compared to its average volume of 1,295,958. Eastman Chemical Company has a 1-year low of $56.78 and a 1-year 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. The stock has a market cap of $7.70 billion, a P/E ratio of 9.42, a price-to-earnings-growth ratio of 6.54 and a beta of 1.25. The stock's fifty day moving average is $70.58 and its 200 day moving average is $78.14.

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

Eastman Chemical Announces Dividend

The firm 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 $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is 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.