Eastman Chemical Company (EMN) To Go Ex-Dividend on December 15th

Eastman Chemical Company (NYSE:EMN) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Monday, December 15th will be paid a dividend of 0.84 per share by the basic materials company on Thursday, January 8th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date is Monday, December 15th. This is a 1.2% increase from Eastman Chemical’s previous quarterly dividend of $0.83.

Eastman Chemical has increased its dividend by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 15 consecutive years. Eastman Chemical has a dividend payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eastman Chemical to earn $9.56 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 35.1%.

Eastman Chemical Price Performance

Shares of NYSE EMN traded down $0.57 during mid-day trading on Friday, reaching $65.27. 2,198,736 shares of the company traded hands, compared to its average volume of 1,636,951. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $103.82. The firm has a market cap of $7.45 billion, a PE ratio of 10.90, a price-to-earnings-growth ratio of 7.04 and a beta of 1.24. The stock has a fifty day simple moving average of $61.02 and a 200-day simple moving average of $68.10. 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 (NYSE:EMN) last released its earnings results 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 firm had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter last year, the company earned $2.26 earnings per share. The business’s revenue for the quarter was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Equities research analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. MUFG Securities EMEA plc acquired a new stake in shares of Eastman Chemical in the second quarter worth $25,000. MassMutual Private Wealth & Trust FSB increased its holdings in shares of 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 worth $28,000 after purchasing an additional 146 shares during the period. Ameritas Advisory Services LLC bought a new stake in shares of Eastman Chemical in the second quarter valued at about $32,000. Loomis Sayles & Co. L P acquired a new stake in Eastman Chemical during the second quarter worth about $33,000. Finally, Rothschild Investment LLC grew its position in Eastman Chemical by 65.6% during the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock worth $36,000 after buying an additional 229 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.