Eastman Chemical Company $EMN Shares Sold by Burney Co.

Burney Co. decreased its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 27.9% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,035 shares of the basic materials company’s stock after selling 5,048 shares during the quarter. Burney Co.’s holdings in Eastman Chemical were worth $973,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Dimensional Fund Advisors LP boosted its holdings in shares of Eastman Chemical by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company’s stock worth $228,042,000 after purchasing an additional 202,740 shares during the last quarter. Northern Trust Corp boosted its holdings in shares of Eastman Chemical by 1.2% during the first quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock worth $122,819,000 after purchasing an additional 16,532 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Eastman Chemical by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,279,279 shares of the basic materials company’s stock worth $112,717,000 after purchasing an additional 13,886 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Eastman Chemical by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company’s stock worth $84,810,000 after purchasing an additional 18,460 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of Eastman Chemical by 4.5% during the 1st quarter. Envestnet Asset Management Inc. now owns 954,675 shares of the basic materials company’s stock worth $84,116,000 after buying an additional 41,537 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $60.77 on Wednesday. Eastman Chemical Company has a 1-year low of $56.75 and a 1-year high of $107.50. The business has a 50-day moving average of $63.94 and a 200-day moving average of $71.54. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The company has a market capitalization of $6.98 billion, a price-to-earnings ratio of 8.54, a PEG ratio of 6.16 and a beta of 1.29.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing the consensus estimate of $1.18 by ($0.04). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The company had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.28 billion. During the same period in the previous year, the company earned $2.26 EPS. Eastman Chemical’s quarterly revenue was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th were paid a dividend of $0.83 per share. The ex-dividend date was Monday, September 15th. This represents a $3.32 annualized dividend and a dividend yield of 5.5%. Eastman Chemical’s dividend payout ratio (DPR) is currently 46.63%.

Wall Street Analyst Weigh In

EMN has been the topic of a number of research analyst reports. Citigroup lifted their target price on Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a report on Thursday, October 2nd. Mizuho reduced their target price on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. UBS Group reduced their target price on Eastman Chemical from $86.00 to $75.00 and set a “buy” rating on the stock in a report on Monday, October 6th. KeyCorp set a $79.00 target price on Eastman Chemical and gave the company an “overweight” rating in a report on Monday, August 4th. Finally, Bank of America reduced their target price on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a report on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $80.33.

Eastman Chemical Profile

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.