Savant Capital LLC Decreases Stock Holdings in Eastman Chemical Company $EMN

Savant Capital LLC lowered its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 39.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,098 shares of the basic materials company’s stock after selling 4,634 shares during the quarter. Savant Capital LLC’s holdings in Eastman Chemical were worth $530,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the business. Dimensional Fund Advisors LP grew its position in Eastman Chemical by 8.5% in 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 acquiring an additional 202,740 shares in the last quarter. Northern Trust Corp lifted its stake in shares of Eastman Chemical by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock valued at $122,819,000 after purchasing an additional 16,532 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of Eastman Chemical by 2.0% in 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 purchasing an additional 18,460 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Eastman Chemical by 4.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 606,354 shares of the basic materials company’s stock worth $53,426,000 after purchasing an additional 24,183 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of Eastman Chemical by 33.1% during the 1st quarter. Ameriprise Financial Inc. now owns 575,191 shares of the basic materials company’s stock valued at $50,700,000 after purchasing an additional 142,897 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 4.0%

Shares of NYSE EMN opened at $60.20 on Friday. Eastman Chemical Company has a 52-week low of $56.75 and a 52-week high of $107.50. The firm has a market capitalization of $6.87 billion, a price-to-earnings ratio of 8.45, a PEG ratio of 6.16 and a beta of 1.31. The stock has a 50 day moving average price of $62.66 and a 200 day moving average price of $70.65. 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 (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 net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period last year, the firm earned $2.26 earnings per share. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Sell-side analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Citigroup lifted their price objective on shares of Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. UBS Group dropped their price target on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research note on Wednesday, November 5th. Wells Fargo & Company cut their price target on shares of Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating on the stock in a report on Wednesday, November 5th. Mizuho decreased their price objective on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, October 3rd. Finally, Weiss Ratings raised Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. Eight analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $78.62.

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.