VAUGHAN & Co SECURITIES INC. Invests $697,000 in Eastman Chemical Company $EMN

VAUGHAN & Co SECURITIES INC. purchased a new position in shares of Eastman Chemical Company (NYSE:EMN) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,048 shares of the basic materials company’s stock, valued at approximately $697,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MUFG Securities EMEA plc purchased a new position in Eastman Chemical in the 2nd quarter worth $25,000. MassMutual Private Wealth & Trust FSB lifted its stake in shares of Eastman Chemical by 65.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after purchasing an additional 146 shares during the period. Ameritas Advisory Services LLC purchased a new stake in shares of Eastman Chemical during the 2nd quarter worth about $32,000. Loomis Sayles & Co. L P purchased a new position in Eastman Chemical during the second quarter worth approximately $33,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in shares of Eastman Chemical during the 3rd quarter valued at approximately $44,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $63.55 on Monday. The company has a current ratio of 1.76, a quick ratio of 0.86 and a debt-to-equity ratio of 0.82. The company has a 50-day moving average price of $61.51 and a 200 day moving average price of $66.76. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $103.82. The stock has a market cap of $7.25 billion, a P/E ratio of 10.61, a PEG ratio of 6.86 and a beta of 1.24.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. The business’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period last year, the company earned $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Sell-side analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 8th. Shareholders of record on Monday, December 15th will be given a $0.84 dividend. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a yield of 5.3%. The ex-dividend date is Monday, December 15th. Eastman Chemical’s dividend payout ratio (DPR) is presently 56.09%.

Analyst Ratings Changes

Several equities research analysts have commented on EMN shares. Citigroup boosted their price objective on Eastman Chemical from $70.00 to $72.00 and gave the stock a “buy” rating in a research note on Thursday, December 18th. UBS Group decreased their price objective on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. Weiss Ratings raised shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a report on Friday, October 24th. Wells Fargo & Company reissued an “equal weight” rating and issued a $70.00 price target on shares of Eastman Chemical in a research note on Friday, December 19th. Finally, Royal Bank Of Canada set a $71.00 price objective on shares of Eastman Chemical in a research note on Tuesday, October 14th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average price target of $78.77.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.