Quarry LP Sells 6,355 Shares of Eastman Chemical Company $EMN

Key Points

• Quarry LP reduced its holdings in Eastman Chemical Company by 32% in the first quarter, now owning 13,518 shares worth approximately $1.19 million after selling 6,355 shares.
• Eastman Chemical's stock has a P/E ratio of 9.87 and has experienced a price range between $56.78 and $114.50 over the last year.
• The company announced a quarterly dividend of $0.83, representing an annual yield of 4.7%, with a payout ratio of 46.63%.

Quarry LP lowered its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 32.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,518 shares of the basic materials company's stock after selling 6,355 shares during the period. Quarry LP's holdings in Eastman Chemical were worth $1,191,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Principal Financial Group Inc. boosted its stake in Eastman Chemical by 5.9% during the first quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company's stock worth $13,702,000 after acquiring an additional 8,708 shares in the last quarter. OneDigital Investment Advisors LLC lifted its stake in shares of Eastman Chemical by 36.9% in the first 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 bought a new position in shares of Eastman Chemical in the first quarter worth approximately $1,494,000. Farther Finance Advisors LLC lifted its stake in shares of Eastman Chemical by 12.8% in the first 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 lifted its stake in shares of Eastman Chemical by 882.3% in the first 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. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Up 3.1%

Shares of EMN stock opened at $70.26 on Friday. Eastman Chemical Company has a 12 month low of $56.78 and a 12 month high of $114.50. The stock has a market cap of $8.07 billion, a P/E ratio of 9.87, a P/E/G ratio of 6.72 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The company has a 50 day simple moving average of $72.41 and a two-hundred day simple moving average of $80.23.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its 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). The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the prior year, the company posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, research analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be paid a $0.83 dividend. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.7%. Eastman Chemical's dividend payout ratio is 46.63%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on EMN shares. UBS Group dropped their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. 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. 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. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, 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. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of "Moderate Buy" and an average price target of $87.00.

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.

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