Catalyst Funds Management Pty Ltd Purchases New Shares in Eastman Chemical Company $EMN

Catalyst Funds Management Pty Ltd acquired a new stake in Eastman Chemical Company (NYSE:EMN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 5,800 shares of the basic materials company’s stock, valued at approximately $433,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of EMN. Empirical Finance LLC increased its stake in shares of Eastman Chemical by 277.2% in the second quarter. Empirical Finance LLC now owns 16,499 shares of the basic materials company’s stock valued at $1,232,000 after buying an additional 12,125 shares in the last quarter. Vanguard Group Inc. grew its holdings in Eastman Chemical by 0.5% during the 2nd quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock worth $1,094,485,000 after acquiring an additional 79,988 shares during the last quarter. Empowered Funds LLC increased its position in Eastman Chemical by 42.3% in the 2nd quarter. Empowered Funds LLC now owns 140,628 shares of the basic materials company’s stock valued at $10,499,000 after acquiring an additional 41,791 shares in the last quarter. Chiron Capital Management LLC raised its stake in shares of Eastman Chemical by 30.4% in the second quarter. Chiron Capital Management LLC now owns 3,000 shares of the basic materials company’s stock worth $224,000 after acquiring an additional 700 shares during the last quarter. Finally, Y.D. More Investments Ltd lifted its position in shares of Eastman Chemical by 24.8% during the second quarter. Y.D. More Investments Ltd now owns 1,303 shares of the basic materials company’s stock worth $99,000 after purchasing an additional 259 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Up 5.6%

NYSE EMN opened at $59.55 on Friday. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $107.50. The stock has a 50-day simple moving average of $61.70 and a 200 day simple moving average of $70.03. 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 capitalization of $6.79 billion, a PE ratio of 8.36, a P/E/G ratio of 6.16 and a beta of 1.31.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.18 by ($0.04). The company had revenue of $2.20 billion for the quarter, compared to analyst estimates of $2.28 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.Eastman Chemical’s quarterly revenue was down 10.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.26 earnings per share. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. Research analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on EMN shares. Wells Fargo & Company lowered their price target on shares of Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating for the company in a report on Wednesday, November 5th. UBS Group reduced their price objective on Eastman Chemical from $75.00 to $73.00 and set a “buy” rating on the stock in a report on Wednesday, November 5th. The Goldman Sachs Group lowered their target price on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research note on Thursday, August 7th. Bank of America cut 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. Finally, Mizuho lowered their price objective on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, October 3rd. Eight investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $78.62.

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.