Eastman Chemical Company $EMN Shares Sold by Inceptionr LLC

Inceptionr LLC trimmed its stake in Eastman Chemical Company (NYSE:EMN) by 69.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,493 shares of the basic materials company’s stock after selling 12,498 shares during the period. Inceptionr LLC’s holdings in Eastman Chemical were worth $410,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC acquired a new stake in Eastman Chemical during the 4th quarter worth $202,000. AE Wealth Management LLC acquired a new stake in shares of Eastman Chemical in the first quarter valued at about $238,000. Cetera Investment Advisers boosted its holdings in Eastman Chemical by 34.4% during the first quarter. Cetera Investment Advisers now owns 70,594 shares of the basic materials company’s stock worth $6,220,000 after buying an additional 18,085 shares in the last quarter. LPL Financial LLC increased its holdings in Eastman Chemical by 18.3% in the first quarter. LPL Financial LLC now owns 224,805 shares of the basic materials company’s stock valued at $19,808,000 after buying an additional 34,755 shares in the last quarter. Finally, Meeder Advisory Services Inc. lifted its position in shares of Eastman Chemical by 8.3% during the 1st quarter. Meeder Advisory Services Inc. now owns 5,704 shares of the basic materials company’s stock valued at $503,000 after acquiring an additional 438 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

EMN has been the topic of several research reports. 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 report on Tuesday, November 11th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the stock an “overweight” rating in a research report on Monday, August 4th. UBS Group reduced their target price on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research note on Wednesday, November 5th. Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a research report on Tuesday, October 14th. Finally, Bank of America dropped 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. Eight investment 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 stock has a consensus rating of “Moderate Buy” and a consensus price target of $78.62.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $60.97 on Friday. The company has a market cap of $6.95 billion, a price-to-earnings ratio of 8.56, a PEG ratio of 6.16 and a beta of 1.31. The firm has a 50 day moving average price of $61.19 and a 200 day moving average price of $69.43. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $105.21. 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 the consensus estimate of $1.18 by ($0.04). The firm had revenue of $2.20 billion during the quarter, compared to analysts’ expectations of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The company’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same period last year, the business posted $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Sell-side analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Company 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.