Y Intercept Hong Kong Ltd Increases Stake in Eastman Chemical Company $EMN

Y Intercept Hong Kong Ltd grew its holdings in Eastman Chemical Company (NYSE:EMN) by 79.8% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 119,060 shares of the basic materials company’s stock after purchasing an additional 52,860 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.10% of Eastman Chemical worth $7,507,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Mitsubishi UFJ Trust & Banking Corp purchased a new stake in shares of Eastman Chemical during the 3rd quarter valued at $49,000. UniSuper Management Pty Ltd raised its holdings in shares of Eastman Chemical by 32.1% during the third quarter. UniSuper Management Pty Ltd now owns 27,906 shares of the basic materials company’s stock worth $1,759,000 after purchasing an additional 6,788 shares during the last quarter. Envestnet Portfolio Solutions Inc. boosted its stake in shares of Eastman Chemical by 168.3% in the third quarter. Envestnet Portfolio Solutions Inc. now owns 194,740 shares of the basic materials company’s stock worth $12,278,000 after buying an additional 122,159 shares during the last quarter. Covestor Ltd increased its holdings in shares of Eastman Chemical by 18.9% during the 3rd quarter. Covestor Ltd now owns 2,204 shares of the basic materials company’s stock valued at $139,000 after purchasing an additional 351 shares in the last quarter. Finally, Locust Wood Capital Advisers LLC purchased a new stake in shares of Eastman Chemical during the 3rd quarter worth about $687,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on EMN shares. Mizuho dropped their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Bank of America decreased their price objective on 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 price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Citigroup increased their price target on shares of Eastman Chemical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Finally, Royal Bank Of Canada lowered Eastman Chemical from an “outperform” rating to a “sector perform” rating and reduced their price target for the company from $74.00 to $70.00 in a research report on Friday, January 16th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $78.54.

Eastman Chemical Stock Down 0.4%

EMN stock opened at $68.68 on Friday. The company has a market cap of $7.83 billion, a price-to-earnings ratio of 11.46, a price-to-earnings-growth ratio of 6.75 and a beta of 1.23. The company has a fifty day moving average price of $63.86 and a 200 day moving average price of $65.45. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $103.82.

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

Eastman Chemical Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date was Monday, December 15th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is presently 56.09%.

Eastman Chemical 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.