Huntington National Bank Boosts Stock Holdings in Eastman Chemical Company $EMN

Huntington National Bank boosted its position in Eastman Chemical Company (NYSE:EMN) by 31.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 110,576 shares of the basic materials company’s stock after purchasing an additional 26,704 shares during the period. Huntington National Bank owned about 0.10% of Eastman Chemical worth $6,972,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc acquired a new stake in shares of Eastman Chemical in the 2nd quarter valued at approximately $25,000. Loomis Sayles & Co. L P purchased a new position in Eastman Chemical in the second quarter worth $33,000. Rothschild Investment LLC lifted its holdings in Eastman Chemical by 65.6% in the third quarter. Rothschild Investment LLC now owns 578 shares of the basic materials company’s stock valued at $36,000 after acquiring an additional 229 shares during the period. Financial Consulate Inc. purchased a new stake in shares of Eastman Chemical during the 3rd quarter worth $42,000. Finally, Heartwood Wealth Advisors LLC acquired a new position in shares of Eastman Chemical during the 3rd quarter worth $44,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Analyst Ratings Changes

EMN has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Eastman Chemical from a “sell (d+)” rating to a “hold (c)” rating in a research note on Wednesday, February 18th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a research report on Monday, February 2nd. Royal Bank Of Canada restated a “sector perform” rating and issued a $79.00 price target on shares of Eastman Chemical in a report on Wednesday, February 4th. UBS Group lowered their price target on shares of Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a research report on Wednesday, November 5th. Finally, KeyCorp reiterated an “overweight” rating on shares of Eastman Chemical in a research report on Monday, February 2nd. Seven analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.21.

Eastman Chemical Stock Up 0.3%

EMN opened at $75.42 on Friday. The company has a market cap of $8.61 billion, a PE ratio of 18.44, a price-to-earnings-growth ratio of 1.66 and a beta of 1.23. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.63 and a current ratio of 1.37. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $99.89. The firm has a 50 day moving average price of $71.19 and a 200 day moving average price of $66.08.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, January 29th. The basic materials company reported $0.75 EPS for the quarter, missing the consensus estimate of $0.76 by ($0.01). The company had revenue of $1.97 billion for the quarter, compared to analysts’ expectations of $2.03 billion. Eastman Chemical had a net margin of 5.42% and a return on equity of 10.57%. The business’s quarterly revenue was down 12.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.87 earnings per share. Sell-side analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 8th. Investors of record on Friday, March 13th will be paid a dividend of $0.84 per share. The ex-dividend date is Friday, March 13th. This represents a $3.36 annualized dividend and a yield of 4.5%. Eastman Chemical’s dividend payout ratio (DPR) is 82.15%.

Eastman Chemical 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.