Sumitomo Mitsui DS Asset Management Company Ltd Raises Position in Eastman Chemical Company $EMN

Key Points

• Sumitomo Mitsui DS Asset Management increased its stake in Eastman Chemical by 45.9% in Q2, bringing its total shares to 17,740 valued at approximately $1.32 million.
• Eastman Chemical reported Q2 EPS of $1.60, falling short of expectations, with revenue declining by 3.2% year-over-year.
• The company declared a quarterly dividend of $0.83 per share, resulting in an annualized dividend yield of 5.2%, set to be paid on October 7th.

Sumitomo Mitsui DS Asset Management Company Ltd raised its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 45.9% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 17,740 shares of the basic materials company's stock after buying an additional 5,579 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Eastman Chemical were worth $1,324,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MassMutual Private Wealth & Trust FSB lifted its position in shares of Eastman Chemical by 65.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock worth $28,000 after purchasing an additional 146 shares during the last quarter. National Pension Service lifted its position in shares of Eastman Chemical by 75.3% during the 1st quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after purchasing an additional 186 shares during the last quarter. TD Private Client Wealth LLC lifted its position in shares of 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 worth $47,000 after purchasing an additional 170 shares during the last quarter. Wayfinding Financial LLC purchased a new stake in shares of Eastman Chemical during the 1st quarter worth $50,000. Finally, Salem Investment Counselors Inc. lifted its position in shares of Eastman Chemical by 105.3% during the 1st quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after purchasing an additional 317 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 1.0%

NYSE EMN opened at $64.43 on Tuesday. 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 firm has a market cap of $7.40 billion, a PE ratio of 9.05, a P/E/G ratio of 6.27 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 firm's fifty day moving average is $68.85 and its two-hundred day moving average is $76.57.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data 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 during the quarter, compared to analyst estimates of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.2%. The ex-dividend date is Monday, September 15th. Eastman Chemical's payout ratio is 46.63%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Royal Bank Of Canada decreased their price objective on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research report on Tuesday, August 5th. UBS Group decreased their price objective on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Citigroup reduced their price target on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a research report on Monday, August 4th. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, The Goldman Sachs Group reduced their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Eight equities research 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 company currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.77.

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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