Stoneridge Investment Partners LLC Invests $699,000 in Eastman Chemical Company $EMN

Stoneridge Investment Partners LLC acquired a new stake in shares of Eastman Chemical Company (NYSE:EMN) during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor acquired 11,087 shares of the basic materials company’s stock, valued at approximately $699,000.

A number of other hedge funds also recently bought and sold shares of the company. MUFG Securities EMEA plc bought a new position in Eastman Chemical during the second quarter valued at approximately $25,000. Ameritas Advisory Services LLC purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at $32,000. Loomis Sayles & Co. L P bought a new position in shares of Eastman Chemical during the 2nd quarter valued at $33,000. Financial Consulate Inc. purchased a new position in Eastman Chemical in the 3rd quarter worth $42,000. Finally, Heartwood Wealth Advisors LLC purchased a new position in Eastman Chemical in the 3rd quarter worth $44,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on EMN shares. UBS Group cut their price target on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Mizuho lowered their target price on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Citigroup raised their price target on Eastman Chemical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. KeyCorp decreased their price target on Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating on the stock in a research note on Friday, January 9th. Finally, Evercore ISI dropped their price objective on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating for the company in a research note on Tuesday, November 11th. Six equities research analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $78.54.

Eastman Chemical Stock Down 0.4%

Shares of NYSE:EMN opened at $68.68 on Friday. The stock’s 50-day moving average is $63.86 and its 200 day moving average is $65.45. The company has a market cap of $7.83 billion, a PE ratio of 11.46, a P/E/G ratio of 6.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $103.82.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The business had revenue of $2.20 billion during the quarter, compared to the consensus estimate of $2.28 billion. During the same quarter in the prior year, the business posted $2.26 earnings per share. 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. Sell-side analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, December 15th. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is presently 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.