Eastman Chemical Company $EMN Shares Sold by F m Investments LLC

F m Investments LLC lessened its stake in shares of Eastman Chemical Company (NYSE:EMN) by 88.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,125 shares of the basic materials company’s stock after selling 23,606 shares during the quarter. F m Investments LLC’s holdings in Eastman Chemical were worth $233,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of the stock. Norges Bank purchased a new stake in shares of Eastman Chemical during the 2nd quarter valued at about $121,060,000. Miller Howard Investments Inc. NY purchased a new stake in shares of Eastman Chemical during the second quarter valued at approximately $26,212,000. Nuveen LLC acquired a new position in shares of Eastman Chemical during the first quarter worth $26,289,000. Atlantic Investment Management Inc. purchased a new position in shares of Eastman Chemical in the first quarter valued at $22,167,000. Finally, Dimensional Fund Advisors LP grew its holdings in Eastman Chemical by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company’s stock valued at $228,042,000 after purchasing an additional 202,740 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on EMN shares. Citigroup boosted their price objective on shares of Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. The Goldman Sachs Group cut their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Mizuho reduced their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a report on Friday, October 3rd. Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a research note on Tuesday, October 14th. Finally, KeyCorp set a $79.00 target price on Eastman Chemical and gave the company an “overweight” rating in a research report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $78.62.

Eastman Chemical Stock Down 0.5%

NYSE:EMN opened at $60.97 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The company has a market capitalization of $6.95 billion, a price-to-earnings ratio of 8.56, a price-to-earnings-growth ratio of 6.16 and a beta of 1.31. Eastman Chemical Company has a one year low of $56.11 and a one year high of $105.21. The stock has a 50-day simple moving average of $61.19 and a 200 day simple moving average of $69.34.

Eastman Chemical (NYSE:EMN) last announced 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 net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the previous year, the company earned $2.26 EPS. The company’s quarterly revenue 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 predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.