Y Intercept Hong Kong Ltd Raises Stock Holdings in Eastman Chemical Company $EMN

Y Intercept Hong Kong Ltd lifted its position in shares of Eastman Chemical Company (NYSE:EMN) by 79.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 119,060 shares of the basic materials company’s stock after buying an additional 52,860 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Eastman Chemical were worth $7,507,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Eastman Chemical by 0.5% during the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock worth $1,094,485,000 after acquiring an additional 79,988 shares during the last quarter. Invesco Ltd. lifted its position in shares of Eastman Chemical by 6.8% during the second 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 during the last quarter. Geode Capital Management LLC grew its position in shares of Eastman Chemical by 1.4% in 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 acquiring an additional 39,510 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in Eastman Chemical by 5.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 2,934,952 shares of the basic materials company’s stock valued at $219,124,000 after purchasing an additional 155,574 shares during the last quarter. Finally, Bank of America Corp DE boosted its stake in Eastman Chemical by 6.1% in the second quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock valued at $184,909,000 after acquiring an additional 143,323 shares during the period. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Evercore ISI lowered their price target on shares of 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. Bank of America dropped their price target on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. KeyCorp dropped their target price on shares of Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating on the stock in a research report on Friday, January 9th. Wells Fargo & Company restated an “equal weight” rating and set a $70.00 price objective on shares of Eastman Chemical in a research report on Friday, December 19th. Finally, Royal Bank Of Canada cut Eastman Chemical from an “outperform” rating to a “sector perform” rating and reduced their price objective for the company from $74.00 to $70.00 in a research report on Friday, January 16th. Six investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $78.54.

Eastman Chemical Stock Performance

EMN opened at $68.68 on Friday. The firm has a market capitalization of $7.83 billion, a P/E ratio of 11.46, a price-to-earnings-growth ratio of 6.75 and a beta of 1.23. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $103.82. The stock’s 50 day moving average price is $63.86 and its two-hundred day moving average price is $65.45. 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 (NYSE:EMN) last posted 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). Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the previous year, the firm posted $2.26 EPS. The business’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. On average, equities analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 15th were issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis 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 56.09%.

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.