Miller Howard Investments Inc. NY Buys New Stake in Eastman Chemical Company $EMN

Key Points

• Miller Howard Investments Inc. NY has acquired 351,091 shares of Eastman Chemical Company, representing a stake valued at approximately $26.2 million.
• Eastman Chemical reported Q2 earnings per share of $1.60, which fell short of analysts' expectations of $1.72, with quarterly revenue also down 3.2% year-over-year.
• The company announced a quarterly dividend of $0.83 per share, resulting in an annualized dividend yield of 5.1%.

Miller Howard Investments Inc. NY purchased a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 351,091 shares of the basic materials company's stock, valued at approximately $26,212,000. Miller Howard Investments Inc. NY owned approximately 0.30% of Eastman Chemical at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of EMN. MassMutual Private Wealth & Trust FSB grew its position in shares of Eastman Chemical by 65.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock worth $28,000 after acquiring an additional 146 shares during the last quarter. National Pension Service lifted its holdings in Eastman Chemical by 75.3% in the 1st 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. TD Private Client Wealth LLC lifted its stake 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 buying an additional 170 shares in the last quarter. Wayfinding Financial LLC purchased a new stake in Eastman Chemical during the first quarter valued at about $50,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Eastman Chemical by 105.3% in the first quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after purchasing an additional 317 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

Shares of NYSE:EMN traded up $0.54 during mid-day trading on Tuesday, reaching $64.89. The stock had a trading volume of 208,110 shares, compared to its average volume of 1,547,657. The company has a market cap of $7.45 billion, a P/E ratio of 9.12, a price-to-earnings-growth ratio of 6.27 and a beta of 1.26. The business's 50 day moving average price is $68.85 and its 200 day moving average price is $76.57. Eastman Chemical Company has a 1 year low of $56.78 and a 1 year high of $114.50. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data 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). The firm had revenue of $2.29 billion during the quarter, compared to the consensus estimate 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 period last year, the company earned $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

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

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Wells Fargo & Company increased their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an "overweight" rating in a report on Tuesday, September 16th. KeyCorp set a $79.00 target price on Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. The Goldman Sachs Group decreased their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Mizuho cut their target price on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Finally, Royal Bank Of Canada lowered their price target on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $87.77.

Eastman Chemical Company 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.