Natixis Advisors LLC Has $13.01 Million Holdings in Eastman Chemical Company $EMN

Natixis Advisors LLC decreased its holdings in Eastman Chemical Company (NYSE:EMN) by 16.3% during the 3rd quarter, Holdings Channel.com reports. The fund owned 206,269 shares of the basic materials company’s stock after selling 40,248 shares during the quarter. Natixis Advisors LLC’s holdings in Eastman Chemical were worth $13,005,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in EMN. Thrivent Financial for Lutherans lifted its holdings in shares of Eastman Chemical by 4.9% in the third quarter. Thrivent Financial for Lutherans now owns 523,191 shares of the basic materials company’s stock valued at $32,987,000 after purchasing an additional 24,458 shares in the last quarter. Vanguard Group Inc. grew its holdings 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 buying an additional 79,988 shares in the last quarter. Federated Hermes Inc. grew its holdings in Eastman Chemical by 65.5% during the third quarter. Federated Hermes Inc. now owns 109,042 shares of the basic materials company’s stock worth $6,875,000 after buying an additional 43,159 shares in the last quarter. Mediolanum International Funds Ltd raised its position in Eastman Chemical by 9.7% in the 2nd quarter. Mediolanum International Funds Ltd now owns 90,443 shares of the basic materials company’s stock valued at $6,893,000 after buying an additional 7,999 shares during the last quarter. Finally, Wedge Capital Management L L P NC lifted its stake in Eastman Chemical by 26.7% during the 3rd quarter. Wedge Capital Management L L P NC now owns 158,514 shares of the basic materials company’s stock valued at $9,994,000 after acquiring an additional 33,441 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Up 4.1%

NYSE EMN opened at $70.50 on Friday. The business’s fifty day moving average is $72.61 and its 200-day moving average is $66.38. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.37 and a quick ratio of 0.63. The stock has a market capitalization of $8.04 billion, a price-to-earnings ratio of 17.24, a PEG ratio of 1.50 and a beta of 1.20. Eastman Chemical Company has a one year low of $56.11 and a one year high of $94.11.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share for the quarter, missing the consensus estimate of $0.76 by ($0.01). Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The company had revenue of $1.97 billion for the quarter, compared to the consensus estimate of $2.03 billion. During the same quarter in the previous year, the company posted $1.87 EPS. Eastman Chemical’s quarterly revenue was down 12.1% compared to the same quarter last year. Equities research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Friday, March 13th. Eastman Chemical’s dividend payout ratio is currently 82.15%.

Analyst Ratings Changes

A number of equities analysts have issued reports on EMN shares. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $79.00 price objective on shares of Eastman Chemical in a report on Wednesday, February 4th. Citigroup raised their price target on shares of Eastman Chemical from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Thursday. KeyCorp restated an “overweight” rating on shares of Eastman Chemical in a report on Monday, February 2nd. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a research report on Monday, February 2nd. Finally, Bank of America increased their price objective on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $79.64.

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.