QSM Asset Management Ltd Sells 12,646 Shares of Eastman Chemical Company $EMN

Key Points

• QSM Asset Management Ltd reduced its stake in Eastman Chemical Company by 19% during Q2, holding 53,811 shares, which is now about 3.7% of their overall portfolio.
• Analysts have varied ratings on Eastman Chemical, with target prices ranging from $65.00 to $101.00, reflecting a mix of "buy," "hold," and "neutral" ratings.
• Eastman Chemical declared a quarterly dividend of $0.83 per share, translating to an annual yield of 5.2%, with the ex-dividend date set for September 15th.

QSM Asset Management Ltd cut its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 19.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 53,811 shares of the basic materials company's stock after selling 12,646 shares during the quarter. Eastman Chemical makes up approximately 3.7% of QSM Asset Management Ltd's holdings, making the stock its 15th largest holding. QSM Asset Management Ltd's holdings in Eastman Chemical were worth $4,024,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the business. Holderness Investments Co. grew its stake in shares of Eastman Chemical by 1.2% in the first quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company's stock worth $922,000 after purchasing an additional 125 shares during the last quarter. CX Institutional lifted its holdings in shares of Eastman Chemical by 10.6% during the second quarter. CX Institutional now owns 1,339 shares of the basic materials company's stock valued at $100,000 after purchasing an additional 128 shares during the last quarter. Wesbanco Bank Inc. lifted its holdings in shares of Eastman Chemical by 3.3% during the second quarter. Wesbanco Bank Inc. now owns 4,109 shares of the basic materials company's stock valued at $307,000 after purchasing an additional 130 shares during the last quarter. Y.D. More Investments Ltd lifted its holdings in shares of Eastman Chemical by 15.0% during the first quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company's stock valued at $92,000 after purchasing an additional 136 shares during the last quarter. Finally, Beverly Hills Private Wealth LLC lifted its holdings in shares of Eastman Chemical by 4.5% during the first quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company's stock valued at $291,000 after purchasing an additional 143 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

EMN has been the subject of several recent research reports. UBS Group lowered their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. The Goldman Sachs Group lowered their target price 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. Wells Fargo & Company lifted their target price on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Mizuho decreased their price objective on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Finally, Citigroup decreased their price objective on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of "Moderate Buy" and a consensus price target of $87.77.

Eastman Chemical Stock Down 1.0%

Shares of NYSE:EMN opened at $64.43 on Tuesday. 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 Company has a 12 month low of $56.78 and a 12 month high of $114.50. The company has a 50-day moving average price of $68.85 and a 200 day moving average price of $76.57. The company has a market cap of $7.40 billion, a price-to-earnings ratio of 9.05, a PEG ratio of 6.27 and a beta of 1.26.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results 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 business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business posted $2.15 EPS. The firm'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. As a group, equities research analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a yield of 5.2%. 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.

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