Panagora Asset Management Inc. Buys 14,165 Shares of Eastman Chemical Company $EMN

Key Points

• Panagora Asset Management Inc. significantly increased its holdings in Eastman Chemical by 189.8%, owning a total of 21,627 shares valued at approximately $1.9 million.
• Eastman Chemical recently reported a quarterly loss with earnings per share (EPS) of $1.60, missing expectations by $0.12, and its revenue decreased by 3.2% year-over-year.
• The company declared a quarterly dividend of $0.83 per share, translating to an annual yield of 4.8%, with a payout ratio of 46.63%.

Panagora Asset Management Inc. boosted its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 189.8% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 21,627 shares of the basic materials company's stock after purchasing an additional 14,165 shares during the quarter. Panagora Asset Management Inc.'s holdings in Eastman Chemical were worth $1,906,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in EMN. Principal Financial Group Inc. lifted its position in shares of Eastman Chemical by 5.9% during the 1st quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company's stock valued at $13,702,000 after acquiring an additional 8,708 shares during the period. OneDigital Investment Advisors LLC raised its holdings in shares of Eastman Chemical by 36.9% during the 1st quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company's stock worth $267,000 after buying an additional 816 shares in the last quarter. Teacher Retirement System of Texas acquired a new position in shares of Eastman Chemical during the 1st quarter worth $1,494,000. Farther Finance Advisors LLC raised its holdings in shares of Eastman Chemical by 12.8% during the 1st quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock worth $167,000 after buying an additional 214 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Eastman Chemical by 882.3% during the 1st quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock worth $83,000 after buying an additional 847 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Up 0.5%

Shares of Eastman Chemical stock traded up $0.37 on Friday, reaching $68.97. 1,172,170 shares of the company's stock were exchanged, compared to its average volume of 1,268,242. The company has a market capitalization of $7.92 billion, a P/E ratio of 9.69, a price-to-earnings-growth ratio of 6.60 and a beta of 1.25. The firm's 50-day moving average is $71.71 and its two-hundred day moving average is $79.09. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. Eastman Chemical Company has a 52 week low of $56.78 and a 52 week high of $114.50.

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 analysts' consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period last year, the business posted $2.15 EPS. The company's revenue was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Sell-side analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is 46.63%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Royal Bank Of Canada dropped their target price on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. Mizuho decreased their price target on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. The Goldman Sachs Group decreased their price target on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Wells Fargo & Company decreased their price target on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, UBS Group decreased their price target 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 analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

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.