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

Prospera Financial Services Inc lifted its position in Eastman Chemical Company (NYSE:EMN) by 8.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 27,514 shares of the basic materials company’s stock after buying 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 hedge funds and other institutional investors also recently modified their holdings of EMN. Dimensional Fund Advisors LP raised its holdings in shares of Eastman Chemical by 8.5% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company’s stock valued at $228,042,000 after purchasing an additional 202,740 shares during the period. Northern Trust Corp boosted its stake in shares of Eastman Chemical by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock worth $122,819,000 after acquiring an additional 16,532 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Eastman Chemical by 2.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company’s stock worth $84,810,000 after acquiring an additional 18,460 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in 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 valued at $53,426,000 after acquiring an additional 24,183 shares during the period. Finally, Ameriprise Financial Inc. lifted its holdings in 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. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the company an “overweight” rating in a research report on Monday, August 4th. Mizuho lowered their price target on shares of Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, October 3rd. UBS Group reduced their price objective on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating for the company in a report on Wednesday, November 5th. Evercore ISI lowered their target price on Eastman Chemical from $75.00 to $70.00 and set an “in-line” rating on the stock in a research note on Tuesday. Finally, Bank of America reduced their price target on Eastman Chemical from $78.00 to $74.00 and set a “buy” rating for the company in a research note on Tuesday, October 14th. Eight research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $78.62.

Eastman Chemical Stock Down 1.1%

NYSE EMN opened at $60.88 on Wednesday. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The company has a market cap of $6.94 billion, a price-to-earnings ratio of 8.55, a PEG ratio of 6.16 and a beta of 1.31. The company has a 50 day moving average of $63.08 and a 200-day moving average of $70.92. Eastman Chemical Company has a 1-year low of $56.75 and a 1-year high of $107.50.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data 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). The company had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.Eastman Chemical’s revenue was down 10.6% on a year-over-year basis. During the same quarter 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 research analysts expect 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.