Eastman Chemical Company $EMN Stock: Miller Howard Investments Inc. NY Lowers Position

Miller Howard Investments Inc. NY reduced its holdings in Eastman Chemical Company (NYSE:EMN) by 48.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 311,066 shares of the basic materials company’s stock after selling 292,034 shares during the period. Miller Howard Investments Inc. NY’s holdings in Eastman Chemical were worth $20,170,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Eastman Chemical during the 2nd quarter valued at approximately $1,134,421,000. Dimensional Fund Advisors LP increased its holdings in Eastman Chemical by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after acquiring an additional 338,914 shares in the last quarter. State Street Corp raised its position in Eastman Chemical by 0.7% during the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock worth $282,741,000 after acquiring an additional 29,010 shares during the period. Allspring Global Investments Holdings LLC raised its position in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock worth $196,552,000 after acquiring an additional 732,693 shares during the period. Finally, Bank of America Corp DE raised its position in Eastman Chemical by 13.5% during the first quarter. Bank of America Corp DE now owns 2,244,071 shares of the basic materials company’s stock worth $171,267,000 after acquiring an additional 266,719 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on EMN. Morgan Stanley decreased their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Mizuho cut their target price on shares of Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating for the company in a research note on Thursday, October 1st. Jefferies Financial Group reissued a “buy” rating and set a $85.00 target price on shares of Eastman Chemical in a research note on Friday, September 25th. Weiss Ratings restated a “hold (c)” rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $74.00 price target on shares of Eastman Chemical in a research note on Monday, August 3rd. Six investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Hold” and a consensus price target of $74.64.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $65.72 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The business’s 50 day moving average price is $67.42 and its 200-day moving average price is $70.94. The firm has a market capitalization of $7.52 billion, a PE ratio of 17.11, a P/E/G ratio of 0.84 and a beta of 1.06. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The firm had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the business earned $1.60 earnings per share. The firm’s revenue for the quarter was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities research analysts expect that Eastman Chemical Company will post 6.36 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, September 15th. Eastman Chemical’s payout ratio is 87.50%.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.