Eastman Chemical Company $EMN Stake Raised by MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Eastman Chemical Company by 29.0%, owning a total of 49,279 shares valued at approximately $4.33 million.
• Eastman Chemical's recent quarterly earnings missed analyst expectations, reporting $1.60 EPS against a projection of $1.72, with revenues of $2.29 billion, down 3.2% year-over-year.
• The company also announced a quarterly dividend of $0.83 per share, providing an annual yield of 4.9%, with a payout ratio of 46.63%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 29.0% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 49,279 shares of the basic materials company's stock after acquiring an additional 11,067 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Eastman Chemical were worth $4,333,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of EMN. Integrated Wealth Concepts LLC raised its holdings in Eastman Chemical by 185.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock valued at $589,000 after buying an additional 4,345 shares during the period. Atlantic Investment Management Inc. purchased a new stake in Eastman Chemical in the 1st quarter valued at about $22,167,000. Amundi raised its holdings in Eastman Chemical by 39.2% in the 1st quarter. Amundi now owns 132,487 shares of the basic materials company's stock valued at $11,673,000 after buying an additional 37,326 shares during the period. Perbak Capital Partners LLP purchased a new stake in Eastman Chemical in the 1st quarter valued at about $337,000. Finally, Panagora Asset Management Inc. raised its holdings in Eastman Chemical by 189.8% in the 1st quarter. Panagora Asset Management Inc. now owns 21,627 shares of the basic materials company's stock valued at $1,906,000 after buying an additional 14,165 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Performance

EMN stock traded up $0.90 during mid-day trading on Tuesday, reaching $66.05. The company had a trading volume of 381,059 shares, compared to its average volume of 1,541,532. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The stock has a market capitalization of $7.58 billion, a P/E ratio of 9.26, a P/E/G ratio of 6.47 and a beta of 1.26. Eastman Chemical Company has a one year low of $56.78 and a one year high of $114.50. The stock's 50-day simple moving average is $70.32 and its two-hundred day simple moving average is $77.64.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The company 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 quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

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 paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date is Monday, September 15th. Eastman Chemical's payout ratio is currently 46.63%.

Analyst Ratings Changes

EMN has been the topic of a number of recent research reports. The Goldman Sachs Group cut their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Citigroup cut their price target on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Royal Bank Of Canada cut their price target on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Finally, UBS Group decreased their price objective on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock 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.