Optas LLC Invests $228,000 in Eastman Chemical Company $EMN

Optas LLC acquired a new position in shares of Eastman Chemical Company (NYSE:EMN) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,056 shares of the basic materials company’s stock, valued at approximately $228,000.

Several other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP raised its holdings in shares of Eastman Chemical by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company’s stock worth $228,042,000 after acquiring an additional 202,740 shares in the last quarter. Northern Trust Corp raised its holdings in shares of Eastman Chemical by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock worth $122,819,000 after acquiring an additional 16,532 shares in the last quarter. Bank of New York Mellon Corp raised its holdings in shares of Eastman Chemical by 1.1% during the 1st 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 acquiring an additional 13,886 shares in the last quarter. Truist Financial Corp raised its holdings in Eastman Chemical by 9.3% during the 1st quarter. Truist Financial Corp now owns 1,265,857 shares of the basic materials company’s stock valued at $111,535,000 after buying an additional 107,750 shares during the period. Finally, PNC Financial Services Group Inc. raised its holdings in Eastman Chemical by 2.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company’s stock valued at $84,810,000 after buying an additional 18,460 shares during the period. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

EMN opened at $58.20 on Friday. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $111.79. The business’s fifty day simple moving average is $65.16 and its 200-day simple moving average is $73.98. The company has a market capitalization of $6.68 billion, a price-to-earnings ratio of 8.17, a PEG ratio of 6.08 and a beta of 1.29. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the previous year, the business earned $2.15 EPS. Eastman Chemical’s revenue for the quarter was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, equities research analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th were paid a $0.83 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a yield of 5.7%. Eastman Chemical’s dividend payout ratio (DPR) is 46.63%.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Mizuho decreased their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. KeyCorp set a $79.00 price target on Eastman Chemical and gave the company an “overweight” rating in a report on Monday, August 4th. The Goldman Sachs Group decreased their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating on the stock in a report on Thursday, August 7th. UBS Group cut their price objective on Eastman Chemical from $86.00 to $75.00 and set a “buy” rating on the stock in a research report on Monday. Finally, Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Eastman Chemical in a research report on Wednesday. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average target price of $85.54.

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.