State of Alaska Department of Revenue Has $2.83 Million Position in Eastman Chemical Company $EMN

Key Points

• The State of Alaska Department of Revenue increased its holdings in Eastman Chemical Company by 33.2% in the second quarter, now owning 37,936 shares valued at approximately $2.83 million.
• Eastman Chemical reported $1.60 earnings per share for the last quarter, which fell short of analysts' expectations of $1.72, with revenue at $2.29 billion, down 3.2% year-over-year.
• The company's quarterly dividend is set at $0.83, translating to an annualized yield of 5.4%, with a dividend payout ratio of 46.63%.

State of Alaska Department of Revenue grew its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 33.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 37,936 shares of the basic materials company's stock after acquiring an additional 9,450 shares during the quarter. State of Alaska Department of Revenue's holdings in Eastman Chemical were worth $2,831,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the business. GAMMA Investing LLC lifted its position in Eastman Chemical by 11,261.1% in the first quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company's stock worth $42,023,000 after purchasing an additional 472,741 shares during the period. Miller Howard Investments Inc. NY bought a new position in Eastman Chemical in the second quarter worth $26,212,000. Nuveen LLC bought a new position in Eastman Chemical in the first quarter worth $26,289,000. Atlantic Investment Management Inc. bought a new position in Eastman Chemical in the first quarter worth $22,167,000. Finally, Dimensional Fund Advisors LP lifted its position in Eastman Chemical by 8.5% in 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 purchasing an additional 202,740 shares during the period. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $61.85 on Thursday. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $111.79. The firm has a market cap of $7.10 billion, a PE ratio of 8.69, a price-to-earnings-growth ratio of 6.11 and a beta of 1.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The business has a fifty day moving average of $66.70 and a 200-day moving average of $75.33.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced 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). 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 analyst estimates of $2.32 billion. During the same quarter last year, the business posted $2.15 earnings per share. The business's quarterly revenue was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, equities research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is presently 46.63%.

Analysts Set New Price Targets

Several research analysts recently commented on EMN shares. Mizuho reduced their target price on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research report on Friday, August 1st. KeyCorp set a $79.00 price objective on Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. UBS Group dropped 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. Royal Bank Of Canada dropped their price objective on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Finally, Wells Fargo & Company increased their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $87.77.

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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