Redwood Investment Management LLC Buys New Shares in Eastman Chemical Company $EMN

Key Points

• Redwood Investment Management LLC has made a new investment of approximately $1.49 million in Eastman Chemical Company by acquiring 16,873 shares.
• Major institutional investors such as GAMMA Investing LLC and Nuveen LLC have significantly increased their stakes in Eastman Chemical, reflecting growing institutional interest in the stock.
• Eastman Chemical recently reported earnings per share (EPS) of $1.60, missing analyst estimates, and has set a quarterly dividend of $0.83 per share, which yields 4.9% annually.

Redwood Investment Management LLC bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 16,873 shares of the basic materials company's stock, valued at approximately $1,487,000.

Several other hedge funds have also bought and sold shares of EMN. GAMMA Investing LLC lifted its stake in Eastman Chemical by 11,261.1% in the 1st quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company's stock valued at $42,023,000 after purchasing an additional 472,741 shares during the last quarter. Nuveen LLC acquired a new stake in Eastman Chemical in the 1st quarter valued at about $26,289,000. Dimensional Fund Advisors LP lifted its position in Eastman Chemical by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company's stock worth $228,042,000 after acquiring an additional 202,740 shares during the last quarter. Ameriprise Financial Inc. lifted its position in Eastman Chemical by 33.1% during the first quarter. Ameriprise Financial Inc. now owns 575,191 shares of the basic materials company's stock worth $50,700,000 after acquiring an additional 142,897 shares during the last quarter. Finally, Albar Capital Partners LLP bought a new position in shares of Eastman Chemical during the fourth quarter worth approximately $12,930,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

EMN has been the topic of several recent research reports. Citigroup lowered their target price on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, August 4th. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. The Goldman Sachs Group decreased their price objective 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. Royal Bank Of Canada decreased their price objective 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. Finally, Mizuho decreased their price objective on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Eastman Chemical Price Performance

Shares of NYSE EMN traded up $2.08 during midday trading on Monday, reaching $70.26. 1,777,521 shares of the company were exchanged, compared to its average volume of 1,586,580. The stock's 50-day moving average price is $72.41 and its 200-day moving average price is $80.08. The stock has a market cap of $8.07 billion, a P/E ratio of 9.87, a PEG ratio of 6.72 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 company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81.

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 for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The company had revenue of $2.29 billion for 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 business's quarterly revenue was down 3.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, sell-side analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

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

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.