CreativeOne Wealth LLC Increases Stock Position in Eastman Chemical Company $EMN

CreativeOne Wealth LLC increased its holdings in Eastman Chemical Company (NYSE:EMN) by 275.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,452 shares of the basic materials company’s stock after buying an additional 9,869 shares during the period. CreativeOne Wealth LLC’s holdings in Eastman Chemical were worth $1,004,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Holderness Investments Co. boosted its holdings in shares of Eastman Chemical by 1.2% in the first quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company’s stock worth $922,000 after acquiring an additional 125 shares during the period. CX Institutional lifted its holdings in Eastman Chemical by 10.6% during the 2nd quarter. CX Institutional now owns 1,339 shares of the basic materials company’s stock worth $100,000 after purchasing an additional 128 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in Eastman Chemical by 3.3% in the 2nd quarter. Wesbanco Bank Inc. now owns 4,109 shares of the basic materials company’s stock worth $307,000 after purchasing an additional 130 shares during the period. Y.D. More Investments Ltd boosted its stake in Eastman Chemical by 15.0% in the 1st quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 136 shares during the period. Finally, MassMutual Private Wealth & Trust FSB grew its holdings in Eastman Chemical by 65.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock valued at $28,000 after buying an additional 146 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Citigroup raised their price objective on shares of Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. The Goldman Sachs Group cut their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Evercore ISI reduced 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. Wells Fargo & Company lowered their price objective on Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Finally, KeyCorp set a $79.00 target price on Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $78.62.

Eastman Chemical Stock Performance

NYSE EMN opened at $61.35 on Friday. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $106.14. The company has a fifty day moving average of $61.27 and a 200-day moving average of $69.58. The company has a market capitalization of $7.00 billion, a P/E ratio of 8.62, a P/E/G ratio of 6.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68.

Eastman Chemical (NYSE:EMN) last released its earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the company earned $2.26 EPS. The firm’s 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. As a group, equities research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Profile

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.