Universal Beteiligungs und Servicegesellschaft mbH Sells 25,346 Shares of Eastman Chemical Company $EMN

Universal Beteiligungs und Servicegesellschaft mbH lowered its position in shares of Eastman Chemical Company (NYSE:EMN) by 23.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 84,923 shares of the basic materials company’s stock after selling 25,346 shares during the period. Universal Beteiligungs und Servicegesellschaft mbH owned about 0.07% of Eastman Chemical worth $5,354,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Eastman Chemical by 0.5% during the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after purchasing an additional 79,988 shares in the last quarter. Invesco Ltd. boosted its position in Eastman Chemical by 6.8% during the 2nd quarter. Invesco Ltd. now owns 2,993,687 shares of the basic materials company’s stock worth $223,509,000 after buying an additional 191,461 shares during the period. Geode Capital Management LLC grew its holdings in Eastman Chemical by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,955,625 shares of the basic materials company’s stock worth $220,252,000 after acquiring an additional 39,510 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in Eastman Chemical by 5.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,934,952 shares of the basic materials company’s stock valued at $219,124,000 after acquiring an additional 155,574 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of Eastman Chemical by 6.1% during the second quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock valued at $184,909,000 after acquiring an additional 143,323 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on EMN. Royal Bank Of Canada downgraded Eastman Chemical from an “outperform” rating to a “sector perform” rating and decreased their price objective for the company from $74.00 to $70.00 in a report on Friday, January 16th. Bank of America lowered their price objective on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research report on Tuesday, October 14th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Eastman Chemical in a report on Wednesday, January 21st. UBS Group decreased their target price on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a research report on Wednesday, November 5th. Finally, Citigroup boosted their price target on shares of Eastman Chemical from $72.00 to $75.00 and gave the stock a “buy” rating in a research report on Thursday, January 15th. Six investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $78.54.

Eastman Chemical Price Performance

Shares of EMN opened at $68.83 on Tuesday. The firm has a market cap of $7.85 billion, a PE ratio of 11.49, a price-to-earnings-growth ratio of 6.75 and a beta of 1.23. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $103.82. The business’s 50 day moving average price is $64.09 and its two-hundred day moving average price is $65.26. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.86 and a current ratio of 1.76.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing the consensus estimate of $1.18 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The business’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business earned $2.26 EPS. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. On average, equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Shareholders of record on Monday, December 15th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.9%. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.83. The ex-dividend date of this dividend was Monday, December 15th. Eastman Chemical’s payout ratio is presently 56.09%.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.