Universal Beteiligungs und Servicegesellschaft mbH Sells 25,346 Shares of Eastman Chemical Company $EMN

Universal Beteiligungs und Servicegesellschaft mbH decreased its position in shares of Eastman Chemical Company (NYSE:EMN) by 23.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 84,923 shares of the basic materials company’s stock after selling 25,346 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Eastman Chemical were worth $5,354,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of EMN. Norges Bank acquired a new stake in Eastman Chemical in the 2nd quarter valued at $121,060,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Eastman Chemical by 1,011.5% during the third quarter. Allspring Global Investments Holdings LLC now owns 943,975 shares of the basic materials company’s stock valued at $58,489,000 after buying an additional 859,046 shares during the last quarter. Qube Research & Technologies Ltd increased its position in shares of Eastman Chemical by 1,456.4% during the second quarter. Qube Research & Technologies Ltd now owns 708,290 shares of the basic materials company’s stock worth $52,881,000 after acquiring an additional 662,783 shares in the last quarter. Ilex Capital Partners UK LLP acquired a new stake in shares of Eastman Chemical in the 2nd quarter worth about $42,547,000. Finally, First Trust Advisors LP lifted its position in Eastman Chemical by 96.7% in the 2nd quarter. First Trust Advisors LP now owns 438,804 shares of the basic materials company’s stock valued at $32,761,000 after acquiring an additional 215,679 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on EMN. Royal Bank Of Canada downgraded Eastman Chemical from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $74.00 to $70.00 in a research note on Friday, January 16th. Wells Fargo & Company reiterated an “equal weight” rating and set a $70.00 price target on shares of Eastman Chemical in a report on Friday, December 19th. Citigroup raised their price objective on Eastman Chemical from $72.00 to $75.00 and gave the company a “buy” rating in a research note on Thursday, January 15th. Bank of America reduced their target price on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Finally, Mizuho dropped their price target 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. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat, Eastman Chemical presently has an average rating of “Hold” and a consensus target price of $78.54.

Eastman Chemical Trading Up 0.2%

Shares of Eastman Chemical stock opened at $68.83 on Tuesday. The firm has a market cap of $7.85 billion, a PE ratio of 11.49, a P/E/G ratio of 6.75 and a beta of 1.23. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $103.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. The stock has a fifty day moving average price of $64.09 and a 200-day moving average price of $65.26.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04). Eastman Chemical had a net margin of 7.75% and a return on equity of 12.89%. 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 company posted $2.26 EPS. Eastman Chemical’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. Equities research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 15th were paid 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 dividend payout ratio (DPR) is 56.09%.

Eastman Chemical Company 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.