Strengthening Families & Communities LLC Has $2.52 Million Position in Eastman Chemical Company $EMN

Strengthening Families & Communities LLC grew its position in Eastman Chemical Company (NYSE:EMN) by 1,353.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 37,608 shares of the basic materials company’s stock after purchasing an additional 35,021 shares during the period. Strengthening Families & Communities LLC’s holdings in Eastman Chemical were worth $2,515,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Vanguard Group Inc. grew its stake in Eastman Chemical by 0.5% in the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after acquiring an additional 79,988 shares during the period. Invesco Ltd. increased its stake in Eastman Chemical by 6.8% during the 2nd quarter. Invesco Ltd. now owns 2,993,687 shares of the basic materials company’s stock worth $223,509,000 after purchasing an additional 191,461 shares in the last quarter. Geode Capital Management LLC raised its holdings in Eastman Chemical by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,955,625 shares of the basic materials company’s stock worth $220,252,000 after buying an additional 39,510 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Eastman Chemical by 5.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,934,952 shares of the basic materials company’s stock worth $219,124,000 after purchasing an additional 155,574 shares during the period. Finally, Bank of America Corp DE increased its holdings in Eastman Chemical by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock worth $184,909,000 after purchasing an additional 143,323 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of EMN stock opened at $71.48 on Tuesday. The business has a fifty day simple moving average of $65.25 and a 200 day simple moving average of $64.95. The company has a market cap of $8.15 billion, a P/E ratio of 17.48, a P/E/G ratio of 6.81 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. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $103.82.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The firm had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a return on equity of 10.63% and a net margin of 5.42%.Eastman Chemical’s revenue for the quarter was down 12.1% on a year-over-year basis. During the same period in the previous year, the company earned $1.87 EPS. On average, sell-side analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a yield of 4.7%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Monday, December 15th. Eastman Chemical’s payout ratio is 82.15%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on EMN. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Eastman Chemical in a research note on Wednesday, January 21st. Royal Bank Of Canada cut shares of Eastman Chemical from an “outperform” rating to a “sector perform” rating and cut their price target for the stock from $74.00 to $70.00 in a research report on Friday, January 16th. Bank of America raised their price objective on Eastman Chemical from $74.00 to $79.00 and gave the company a “buy” rating in a report on Monday. JPMorgan Chase & Co. upped their target price on Eastman Chemical from $60.00 to $70.00 and gave the stock an “overweight” rating in a report on Monday. Finally, Evercore ISI decreased their price target on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Seven research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $78.00.

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.