Eastman Chemical Company $EMN Stock: Miller Howard Investments Inc. NY Cuts Holdings

Miller Howard Investments Inc. NY lessened its holdings in Eastman Chemical Company (NYSE:EMN) by 48.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 311,066 shares of the basic materials company’s stock after selling 292,034 shares during the quarter. Miller Howard Investments Inc. NY owned about 0.27% of Eastman Chemical worth $20,170,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new stake in shares of Eastman Chemical in the 2nd quarter valued at $1,134,421,000. Legal & General Group Plc purchased a new position in shares of Eastman Chemical during the second quarter worth $87,583,000. Bank of New York Mellon Corp acquired a new position in Eastman Chemical during the second quarter valued at $81,645,000. Allspring Global Investments Holdings LLC lifted its position in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after purchasing an additional 732,693 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock valued at $376,747,000 after purchasing an additional 338,914 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

NYSE:EMN opened at $65.72 on Tuesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The company has a 50 day moving average price of $67.42 and a 200-day moving average price of $70.94. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47. The firm has a market cap of $7.52 billion, a price-to-earnings ratio of 17.11, a price-to-earnings-growth ratio of 0.84 and a beta of 1.06.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities research analysts forecast that Eastman Chemical Company will post 6.36 EPS for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were given a $0.84 dividend. The ex-dividend date was Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 5.1%. Eastman Chemical’s dividend payout ratio is 87.50%.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on EMN shares. KeyCorp began coverage on Eastman Chemical in a research report on Thursday, September 10th. They set a “sector weight” rating on the stock. Barclays began coverage on Eastman Chemical in a report on Monday, October 12th. They issued an “equal weight” rating and a $72.00 price objective for the company. Wells Fargo & Company set a $68.00 price objective on Eastman Chemical in a report on Friday, October 16th. Zacks Research downgraded Eastman Chemical from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $74.00 target price on shares of Eastman Chemical in a report on Monday, August 3rd. Six equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $74.64.

Eastman Chemical Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.