Eastman Chemical Company $EMN Shares Sold by Metis Global Partners LLC

Metis Global Partners LLC trimmed its stake in shares of Eastman Chemical Company (NYSE:EMN) by 41.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,743 shares of the basic materials company’s stock after selling 1,930 shares during the quarter. Metis Global Partners LLC’s holdings in Eastman Chemical were worth $205,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the stock. MassMutual Private Wealth & Trust FSB boosted its stake in shares of 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 period. Ameritas Advisory Services LLC acquired a new stake in Eastman Chemical in the second quarter valued at approximately $32,000. National Pension Service lifted its stake in Eastman Chemical by 75.3% in the first quarter. National Pension Service now owns 433 shares of the basic materials company’s stock worth $38,000 after acquiring an additional 186 shares during the last quarter. Hilltop National Bank acquired a new position in Eastman Chemical during the 2nd quarter worth approximately $62,000. Finally, Private Trust Co. NA increased its position in shares of Eastman Chemical by 34.3% in the 2nd quarter. Private Trust Co. NA now owns 1,120 shares of the basic materials company’s stock valued at $84,000 after purchasing an additional 286 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EMN. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. Royal Bank Of Canada set a $71.00 price target on Eastman Chemical in a research note on Tuesday, October 14th. The Goldman Sachs Group lowered their price objective on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Mizuho dropped their price objective on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. Finally, Bank of America decreased their target price on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Eastman Chemical has an average rating of “Moderate Buy” and a consensus price target of $78.62.

Eastman Chemical Stock Up 3.0%

Eastman Chemical stock opened at $62.75 on Friday. The company has a market capitalization of $7.16 billion, a P/E ratio of 8.81, a PEG ratio of 6.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. Eastman Chemical Company has a fifty-two week low of $56.75 and a fifty-two week high of $107.50. The stock has a 50-day simple moving average of $62.84 and a 200-day simple moving average of $70.79.

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

Eastman Chemical Company 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.