Universal Beteiligungs und Servicegesellschaft mbH Reduces Holdings in Eastman Chemical Company $EMN

Universal Beteiligungs und Servicegesellschaft mbH trimmed its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 35.9% in the fourth quarter, HoldingsChannel reports. The firm owned 54,459 shares of the basic materials company’s stock after selling 30,464 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in Eastman Chemical were worth $3,495,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. Salomon & Ludwin LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth approximately $69,000. Evergreen Capital Management LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth approximately $392,000. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Eastman Chemical by 2.9% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,158 shares of the basic materials company’s stock worth $2,436,000 after purchasing an additional 1,092 shares in the last quarter. Miller Howard Investments Inc. NY increased its stake in shares of Eastman Chemical by 94.1% during the 4th quarter. Miller Howard Investments Inc. NY now owns 555,291 shares of the basic materials company’s stock worth $35,444,000 after purchasing an additional 269,275 shares in the last quarter. Finally, Merit Financial Group LLC increased its stake in shares of Eastman Chemical by 301.0% during the 4th quarter. Merit Financial Group LLC now owns 14,756 shares of the basic materials company’s stock worth $942,000 after purchasing an additional 11,076 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

EMN has been the subject of several recent analyst reports. UBS Group lifted their target price on shares of Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Citigroup lowered their target price on shares of Eastman Chemical from $84.00 to $83.00 and set a “buy” rating for the company in a research note on Thursday, April 16th. Evercore set a $75.00 target price on shares of Eastman Chemical in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Eastman Chemical from $64.00 to $72.00 and gave the stock a “hold” rating in a research note on Monday, February 2nd. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Eastman Chemical in a research note on Monday, February 2nd. Six investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $76.36.

Eastman Chemical Stock Down 1.8%

Shares of EMN opened at $70.33 on Thursday. The firm has a market cap of $8.02 billion, a PE ratio of 17.20, a price-to-earnings-growth ratio of 0.97 and a beta of 1.16. The company’s fifty day moving average is $72.68 and its two-hundred day moving average is $67.97. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $84.18. The company has a quick ratio of 0.63, a current ratio of 1.37 and a debt-to-equity ratio of 0.70.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, January 29th. The basic materials company reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). The company had revenue of $1.97 billion during the quarter, compared to analyst estimates of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The firm’s revenue for the quarter was down 12.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.87 EPS. Analysts forecast that Eastman Chemical Company will post 5.85 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, April 8th. Shareholders of record on Friday, March 13th were issued a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date was Friday, March 13th. Eastman Chemical’s dividend payout ratio (DPR) is 82.15%.

About Eastman Chemical

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.