Prospera Financial Services Inc Has $2.05 Million Stock Position in Eastman Chemical Company $EMN

Prospera Financial Services Inc raised its holdings in Eastman Chemical Company (NYSE:EMN) by 8.6% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 27,514 shares of the basic materials company’s stock after purchasing an additional 2,185 shares during the quarter. Prospera Financial Services Inc’s holdings in Eastman Chemical were worth $2,054,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of EMN. MassMutual Private Wealth & Trust FSB lifted its position in shares of Eastman Chemical by 65.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock worth $28,000 after buying an additional 146 shares during the last quarter. Ameritas Advisory Services LLC acquired a new position in Eastman Chemical during the second quarter worth about $32,000. National Pension Service lifted its holdings in shares of 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 stake in shares of Eastman Chemical in the 2nd quarter valued at approximately $62,000. Finally, Private Trust Co. NA grew its holdings in shares of Eastman Chemical by 34.3% during 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. Institutional investors and hedge funds own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

EMN has been the subject of a number of research reports. Mizuho dropped their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Bank of America dropped their price objective on shares of Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a report on Tuesday, October 14th. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the company an “overweight” rating in a research note on Monday, August 4th. Weiss Ratings upgraded Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Friday, October 24th. Finally, Wells Fargo & Company decreased their price target on Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating for the company in a research note on Wednesday, November 5th. Eight investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $78.62.

Eastman Chemical Stock Down 1.1%

EMN stock opened at $60.88 on Wednesday. The stock’s 50 day simple moving average is $63.08 and its 200 day simple moving average is $70.92. The company has a market cap of $6.94 billion, a P/E ratio of 8.55, a price-to-earnings-growth 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.

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 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 analyst estimates of $2.28 billion. During the same period in the previous year, the company earned $2.26 earnings per share. Eastman Chemical’s revenue for the quarter 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. On average, research analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

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.