Coldstream Capital Management Inc. Has $317,000 Stock Position in Eastman Chemical Company $EMN

Coldstream Capital Management Inc. lessened its holdings in Eastman Chemical Company (NYSE:EMN) by 27.6% in the 2nd quarter, Holdings Channel reports. The firm owned 4,239 shares of the basic materials company’s stock after selling 1,620 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Eastman Chemical were worth $317,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Eastman Chemical by 0.5% during the second quarter. Vanguard Group Inc. now owns 14,659,591 shares of the basic materials company’s stock valued at $1,094,485,000 after buying an additional 79,988 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Eastman Chemical by 1.4% during the 2nd quarter. Geode Capital Management LLC now owns 2,955,625 shares of the basic materials company’s stock valued at $220,252,000 after acquiring an additional 39,510 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Eastman Chemical by 5.6% in the 2nd quarter. Massachusetts Financial Services Co. MA now owns 2,934,952 shares of the basic materials company’s stock valued at $219,124,000 after acquiring an additional 155,574 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in 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 worth $228,042,000 after purchasing an additional 202,740 shares during the last quarter. Finally, Northern Trust Corp boosted its position in Eastman Chemical by 1.2% during the first quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock worth $122,819,000 after purchasing an additional 16,532 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Wells Fargo & Company dropped their price target on shares of Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 5th. Citigroup lifted their target price on shares of Eastman Chemical from $68.00 to $70.00 and gave the stock a “buy” rating in a report on Thursday, October 2nd. The Goldman Sachs Group cut their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. Mizuho lowered their price target on Eastman Chemical from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, October 3rd. Finally, KeyCorp set a $79.00 target price on Eastman Chemical and gave the company an “overweight” rating in a research note on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $78.62.

Eastman Chemical Stock Down 0.5%

Shares of EMN opened at $60.97 on Friday. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The company has a 50-day simple moving average of $61.19 and a 200-day simple moving average of $69.43. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $105.21. The firm has a market capitalization of $6.95 billion, a P/E ratio of 8.56, a P/E/G ratio of 6.16 and a beta of 1.31.

Eastman Chemical (NYSE:EMN) last issued its quarterly 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 firm had revenue of $2.20 billion for the quarter, compared to the consensus estimate of $2.28 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company’s revenue was down 10.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.26 earnings per share. 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 year.

Eastman Chemical 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.