Nomura Asset Management Co. Ltd. Has $2.20 Million Holdings in Eastman Chemical Company $EMN

Nomura Asset Management Co. Ltd. lessened its position in shares of Eastman Chemical Company (NYSE:EMN) by 54.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 29,481 shares of the basic materials company’s stock after selling 34,678 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Eastman Chemical were worth $2,201,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the company. MassMutual Private Wealth & Trust FSB lifted 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 purchasing an additional 146 shares during the period. Ameritas Advisory Services LLC bought a new stake in Eastman Chemical in the second quarter worth 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 valued at $38,000 after buying an additional 186 shares during the period. Hilltop National Bank acquired a new position in Eastman Chemical in the second quarter valued at approximately $62,000. Finally, Private Trust Co. NA boosted 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 worth $84,000 after buying an additional 286 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on EMN shares. The Goldman Sachs Group lowered their price objective on shares of Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Weiss Ratings raised shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Friday, October 24th. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the company an “overweight” rating in a report on Monday, August 4th. Evercore ISI cut their price objective on shares of Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research report on Tuesday, November 11th. Finally, Citigroup boosted their target price on Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a research report on Thursday, October 2nd. Eight equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.62.

Eastman Chemical Stock Up 5.6%

Eastman Chemical stock opened at $59.55 on Friday. The firm has a market capitalization of $6.79 billion, a price-to-earnings ratio of 8.36, a price-to-earnings-growth ratio of 6.16 and a beta of 1.31. The firm’s fifty day moving average price is $61.70 and its two-hundred day moving average price is $69.98. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $107.50. 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 posted 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 business had revenue of $2.20 billion during the quarter, compared to analyst estimates of $2.28 billion. During the same quarter in the prior year, the company earned $2.26 EPS. The company’s 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 research analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

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.