Miller Howard Investments Inc. NY Sells 65,075 Shares of Eastman Chemical Company $EMN

Miller Howard Investments Inc. NY decreased its stake in shares of Eastman Chemical Company (NYSE:EMN) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 286,016 shares of the basic materials company’s stock after selling 65,075 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Eastman Chemical were worth $18,033,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. MUFG Securities EMEA plc acquired a new position in Eastman Chemical during the second quarter worth $25,000. MassMutual Private Wealth & Trust FSB increased its stake 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 purchasing an additional 146 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $32,000. Loomis Sayles & Co. L P acquired a new stake in Eastman Chemical in the 2nd quarter valued at about $33,000. Finally, Financial Consulate Inc. bought a new position in Eastman Chemical during the third quarter worth about $42,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analysts Set New Price Targets

EMN has been the topic of several research analyst reports. Citigroup upped their price objective on Eastman Chemical from $70.00 to $72.00 and gave the company a “buy” rating in a research note on Thursday, December 18th. Bank of America dropped their price target on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating on the stock in a research note on Tuesday, October 14th. KeyCorp reduced their price objective on shares of Eastman Chemical from $76.00 to $74.00 and set an “overweight” rating for the company in a research report on Friday. Evercore ISI decreased 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 report on Tuesday, November 11th. Finally, Mizuho cut their target price 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. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average target price of $78.38.

Eastman Chemical Stock Down 0.0%

EMN stock opened at $68.76 on Friday. The business’s fifty day moving average price is $62.30 and its two-hundred day moving average price is $66.12. The stock has a market capitalization of $7.84 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 6.68 and a beta of 1.23. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $103.82. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.76 and a quick ratio of 0.86.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a return on equity of 12.89% and a net margin of 7.75%.The business had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. During the same period in the prior year, the business posted $2.26 earnings per share. Eastman Chemical’s revenue 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, equities analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 8th. Stockholders of record on Monday, December 15th were given a $0.84 dividend. The ex-dividend date was Monday, December 15th. This is a positive change from Eastman Chemical’s previous quarterly dividend of $0.83. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.9%. Eastman Chemical’s dividend payout ratio (DPR) is presently 56.09%.

About Eastman Chemical

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.