Eastman Chemical (EMN)

• Market cap: $10.6B
• 1 day: 1.92%
• 5 days: -5.50%
• 1 month: -9.48%
• 3 months: -13.95%
• 6 months: -6.44%
• Year to date: 2.66%
• 1 year: 4.27%
• 5 years: 16.79%
• 10 years: 19.96%
• Sector: Materials
• Industry: Plastic Materials, Synthetic Resins & Nonvulcan Elastomers

About: Established in 1920 to produce chemicals for Eastman Kodak, Eastman Chemical has grown into a global specialty chemical company with manufacturing sites around the world. The company generates the majority of its sales outside of the United States, with a strong presence in Asian markets. During the past several years, Eastman has sold noncore businesses, choosing to focus on higher-margin specialty product offerings.

Employees: 14,000

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

229% more call options, than puts

Call options by funds: $46.2M | Put options by funds: $14M

39% more first-time investments, than exits

New positions opened: 97 | Existing positions closed: 70

9% more capital invested

Capital invested by funds: $10.3B [Q2] → $11.2B (+$903M) [Q3]

4% more funds holding

Funds holding: 739 [Q2] → 766 (+27) [Q3]

9% more repeat investments, than reductions

Existing positions increased: 275 | Existing positions reduced: 253

4.31% less ownership

Funds ownership: 89.13% [Q2] → 84.82% (-4.31%) [Q3]

25% less funds holding in top 10

Funds holding in top 10: 4 [Q2] → 3 (-1) [Q3]

Research analyst outlook

6 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $104 13% upside
• Avg. target: $113 24% upside
• High target: $125 36% upside

6 analyst ratings

• positive: 1 17%
• neutral: 5 83%
• negative: 0 0%

Citigroup Patrick Cunningham 50% 1-year accuracy 16 / 32 met price target	13% upside $104	Neutral Downgraded	18 Dec 2024
Mizuho John Roberts 48% 1-year accuracy 16 / 33 met price target	28% upside $117	Neutral Maintained	26 Nov 2024
Wells Fargo Michael Sison 11% 1-year accuracy 4 / 38 met price target	36% upside $125	Overweight Upgraded	26 Nov 2024
RBC Capital Arun Viswanathan 29% 1-year accuracy 20 / 70 met price target	14% upside $105	Sector Perform Reiterated	22 Nov 2024
Deutsche Bank David Begleiter 46% 1-year accuracy 6 / 13 met price target	20% upside $110	Hold Maintained	4 Nov 2024