Eastman Chemical Company
EMN
and DuPont Biomaterials recently announced the unveiling of a fabric collection made of biobased, sustainable materials. Their collaboration combines Eastman Chemical’s Naia and DuPont Sorona fibers. Moreover, the new collection is expected to boost prospects of sustainable textiles for everyday casual wear.
Notably, Eastman Naia cellulosic fiber is ideal choice for fabrics in womenswear. The portfolio of sustainable fibers offered by Naia provides designers with more choices and versatility. Naia fabrics are made with sourced wood from sustainably managed eucalyptus and pine forests and plantations. It adds the richness of nature to luxurious and comfortable fabrics. Further, Naia is made through low-impact and optimized manufacturing, and has a low tree-to-fiber environmental footprint in compliance with ISO 14044.
The DuPont Sorona brand is made from 37% renewable plant-based ingredients that offer high-performance and responsibly sourced material alternative. Fibers made with Sorona polymer are now used in various apparel applications such as athletic wear, swimwear, insulation and suiting. Also, Sorona minimizes environmental impacts without compromising quality and performance.
Per Eastman Chemical, this collaboration will provide a great choice of sustainable fabric collection with biobased, renewable materials without sacrificing beauty, quality or comfort of the product.
Shares of the Eastman Chemical gained 6.3% in the past year against the 2.6% decline of its
industry
.
Eastman Chemical benefits from its innovation-driven growth model, cost reduction actions and acquisitions amid certain headwinds including a difficult demand environment.
The company is taking an aggressive approach to manage costs in response to the coronavirus pandemic. Eastman Chemical has significantly increased its cost-reduction target, which is forecast to be roughly $150 million of net savings in 2020. These cost actions include reduction of discretionary spending. The company’s cost reduction actions are expected to contribute to its earnings per share in 2020.
Zacks Rank & Key Picks
Eastman Chemical currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Air Products and Chemicals, Inc.
APD
, Pretium Resources, Inc.
PVG
and Yamana Gold Inc.
AUY
, each carrying a Zacks Rank #2 (Buy). You can see
the complete list of today’s Zacks #1 (Strong Buy) Rank stocks here
.
Air Products has an expected earnings growth rate of 2.2% for fiscal 2020. The company’s shares have surged 29.9% in the past year.
Pretium Resources has an expected earnings growth rate of 20% for 2020. Its shares have returned 3.7% in the past year.
Yamana has an expected earnings growth rate of 76.9% for 2020. The company’s shares have gained 67.1% in the past year.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
