11,087 Shares in Eastman Chemical Company $EMN Purchased by Stoneridge Investment Partners LLC

Stoneridge Investment Partners LLC acquired a new stake in shares of Eastman Chemical Company (NYSE:EMN) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 11,087 shares of the basic materials company’s stock, valued at approximately $699,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical in the 2nd quarter valued at approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in Eastman Chemical in the second quarter worth $32,000. Loomis Sayles & Co. L P bought a new position in Eastman Chemical in the second quarter worth $33,000. Financial Consulate Inc. purchased a new position in Eastman Chemical during the third quarter valued at $42,000. Finally, Heartwood Wealth Advisors LLC bought a new stake in shares of Eastman Chemical during the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on EMN. Weiss Ratings reiterated a “hold (c-)” rating on shares of Eastman Chemical in a research note on Wednesday. Bank of America cut their price objective on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. UBS Group lowered their target price on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Mizuho cut their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, Evercore ISI reduced their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a research report on Tuesday, November 11th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $78.54.

Eastman Chemical Trading Down 0.4%

NYSE:EMN opened at $68.68 on Friday. The stock has a market cap of $7.83 billion, a price-to-earnings ratio of 11.46, a PEG ratio of 6.75 and a beta of 1.23. The company has a quick ratio of 0.86, a current ratio of 1.76 and a debt-to-equity ratio of 0.82. The company’s 50 day moving average price is $63.86 and its 200-day moving average price is $65.45. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $103.82.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.04). The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate 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 was down 10.6% compared to the same quarter last year. During the same period last year, the company posted $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities research analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

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

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.