Envestnet Portfolio Solutions Inc. Buys 122,159 Shares of Eastman Chemical Company $EMN

Envestnet Portfolio Solutions Inc. boosted its stake in shares of Eastman Chemical Company (NYSE:EMN) by 168.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 194,740 shares of the basic materials company’s stock after buying an additional 122,159 shares during the quarter. Envestnet Portfolio Solutions Inc. owned approximately 0.17% of Eastman Chemical worth $12,278,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Amalgamated Bank boosted its holdings in shares of Eastman Chemical by 0.8% in the second quarter. Amalgamated Bank now owns 22,291 shares of the basic materials company’s stock valued at $1,664,000 after purchasing an additional 168 shares during the period. NewEdge Advisors LLC increased its position in Eastman Chemical by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock valued at $644,000 after purchasing an additional 183 shares during the period. Concorde Financial Corp increased its position in Eastman Chemical by 0.9% during the 2nd quarter. Concorde Financial Corp now owns 22,561 shares of the basic materials company’s stock valued at $1,684,000 after purchasing an additional 211 shares during the period. Aldebaran Financial Inc. raised its holdings in shares of Eastman Chemical by 3.0% in the 2nd quarter. Aldebaran Financial Inc. now owns 7,887 shares of the basic materials company’s stock valued at $589,000 after purchasing an additional 226 shares in the last quarter. Finally, Tyche Wealth Partners LLC lifted its position in shares of Eastman Chemical by 3.8% in the 2nd quarter. Tyche Wealth Partners LLC now owns 6,154 shares of the basic materials company’s stock worth $459,000 after purchasing an additional 227 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $68.68 on Friday. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $103.82. The company has a market cap of $7.83 billion, a PE ratio of 11.46, a P/E/G ratio of 6.77 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 1.76. The business has a 50-day simple moving average of $63.86 and a two-hundred day simple moving average of $65.56.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The company 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 revenue for the quarter was down 10.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. As a group, equities analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 15th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is currently 56.09%.

Analyst Ratings Changes

A number of equities analysts recently commented on EMN shares. Wells Fargo & Company reissued an “equal weight” rating and issued a $70.00 price objective on shares of Eastman Chemical in a research note on Friday, December 19th. Bank of America reduced their price target on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. UBS Group dropped their price objective on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Evercore ISI cut their target price on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday, November 11th. Finally, KeyCorp decreased their price target on shares of Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday, January 9th. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical has an average rating of “Hold” and an average target price of $78.54.

Eastman Chemical Company Profile

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.