State of Alaska Department of Revenue Purchases 16,419 Shares of Eastman Chemical Company $EMN

State of Alaska Department of Revenue grew its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 43.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,355 shares of the basic materials company’s stock after buying an additional 16,419 shares during the period. State of Alaska Department of Revenue’s holdings in Eastman Chemical were worth $3,426,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of EMN. CX Institutional increased its stake in Eastman Chemical by 10.6% in the second quarter. CX Institutional now owns 1,339 shares of the basic materials company’s stock valued at $100,000 after purchasing an additional 128 shares in the last quarter. Wesbanco Bank Inc. boosted its stake in Eastman Chemical by 3.3% during the 2nd quarter. Wesbanco Bank Inc. now owns 4,109 shares of the basic materials company’s stock valued at $307,000 after purchasing an additional 130 shares during the last quarter. MassMutual Private Wealth & Trust FSB increased its stake in Eastman Chemical by 65.5% in 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 during the last quarter. Amalgamated Bank increased its position in shares of Eastman Chemical by 0.8% during the 2nd quarter. Amalgamated Bank now owns 22,291 shares of the basic materials company’s stock valued at $1,664,000 after purchasing an additional 168 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its position in shares of Eastman Chemical by 2.6% during the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 183 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

NYSE:EMN opened at $68.46 on Tuesday. The stock’s 50 day simple moving average is $62.51 and its two-hundred day simple moving average is $65.99. 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. The company has a market cap of $7.81 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 6.68 and a beta of 1.23.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.28 billion. Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The firm’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. As a group, equities analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Investors of record on Monday, December 15th were paid a $0.84 dividend. The ex-dividend date of this dividend was Monday, December 15th. This represents a $3.36 annualized dividend and a yield of 4.9%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.83. Eastman Chemical’s payout ratio is 56.09%.

Analysts Set New Price Targets

EMN has been the subject of several recent analyst reports. UBS Group reduced their price objective on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Bank of America cut their price objective on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. Royal Bank Of Canada set a $71.00 target price on shares of Eastman Chemical in a research report on Tuesday, October 14th. Mizuho reduced their price objective on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, October 3rd. Finally, KeyCorp lowered their price target on Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $78.38.

Eastman Chemical 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.