Steward Partners Investment Advisory LLC Acquires 31,115 Shares of Eastman Chemical Company $EMN

Key Points

• Steward Partners Investment Advisory LLC significantly increased its stake in Eastman Chemical Company by 213.8%, now holding 45,666 shares valued at $4.02 million.
• Eastman Chemical reported earnings of $1.60 per share, missing analysts' estimates and registering a 3.2% decline in quarterly revenue compared to last year.
• The company has announced a quarterly dividend of $0.83 per share, yielding 5.0%, with a payout ratio of 46.63%.

Steward Partners Investment Advisory LLC raised its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 213.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 45,666 shares of the basic materials company's stock after purchasing an additional 31,115 shares during the quarter. Steward Partners Investment Advisory LLC's holdings in Eastman Chemical were worth $4,024,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. National Pension Service increased its position in Eastman Chemical by 75.3% during the 1st quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after purchasing an additional 186 shares during the period. Orion Capital Management LLC purchased a new position in Eastman Chemical during the 4th quarter valued at $47,000. TD Private Client Wealth LLC increased its position in Eastman Chemical by 46.4% during the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock valued at $47,000 after purchasing an additional 170 shares during the period. Johnson Financial Group Inc. increased its position in Eastman Chemical by 68.5% during the 4th quarter. Johnson Financial Group Inc. now owns 556 shares of the basic materials company's stock valued at $55,000 after purchasing an additional 226 shares during the period. Finally, Wayfinding Financial LLC purchased a new position in Eastman Chemical during the 1st quarter valued at $50,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

EMN traded up $3.4420 during midday trading on Friday, hitting $69.4520. 1,397,348 shares of the company traded hands, compared to its average volume of 2,046,609. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $7.98 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 6.31 and a beta of 1.21. The company's 50-day moving average is $73.04 and its 200 day moving average is $81.46. 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 posted its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company posted $2.15 EPS. Eastman Chemical'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. On average, research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm 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. This represents a $3.32 annualized dividend and a dividend yield of 4.8%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio is 46.63%.

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. JPMorgan Chase & Co. reissued a "neutral" rating and set a $76.00 price objective (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Royal Bank Of Canada reduced their target price on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the stock an "overweight" rating in a research report on Monday, August 4th. Barclays reduced their target price on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Finally, Mizuho reduced their target price on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research report on Friday, August 1st. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Eastman Chemical Company 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.