Allworth Financial LP Lowers Holdings in Eastman Chemical Company $EMN

Key Points

• Allworth Financial reduced its Eastman Chemical stake by 20.9% in the second quarter, selling 23,202 shares and retaining 87,871 shares valued at approximately $5.9 million. Institutional investors collectively own 83.65% of EMN.
• Eastman Chemical beat quarterly expectations with EPS of $1.97 versus the $1.82 consensus and revenue of $2.51 billion, up 9.9% year over year. The stock opened at $68.36, below its 50-day and 200-day moving averages.
• The company declared a quarterly dividend of $0.84 per share, equivalent to a 4.9% annualized yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $79.17.

Allworth Financial LP lowered its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 20.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 87,871 shares of the basic materials company's stock after selling 23,202 shares during the quarter. Allworth Financial LP owned about 0.08% of Eastman Chemical worth $5,886,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of EMN. Arizona State Retirement System raised its position in shares of Eastman Chemical by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 31,553 shares of the basic materials company's stock worth $2,113,000 after buying an additional 212 shares during the period. Paragon Capital Management Ltd lifted its stake in shares of Eastman Chemical by 26.5% in the 2nd quarter. Paragon Capital Management Ltd now owns 3,918 shares of the basic materials company's stock valued at $262,000 after purchasing an additional 821 shares in the last quarter. Nykredit A S purchased a new stake in shares of Eastman Chemical during the 2nd quarter worth about $356,000. Parkside Financial Bank & Trust grew its holdings in shares of Eastman Chemical by 17.4% during the 2nd quarter. Parkside Financial Bank & Trust now owns 1,134 shares of the basic materials company's stock worth $76,000 after purchasing an additional 168 shares during the period. Finally, Allianz Asset Management GmbH increased its position in Eastman Chemical by 70.2% during the 2nd quarter. Allianz Asset Management GmbH now owns 229,789 shares of the basic materials company's stock worth $15,391,000 after purchasing an additional 94,798 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 2.9%

NYSE EMN opened at $68.36 on Thursday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The business has a 50 day moving average price of $70.77 and a two-hundred day moving average price of $72.00. The stock has a market cap of $7.82 billion, a PE ratio of 17.80, a P/E/G ratio of 0.86 and a beta of 1.07.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The business had revenue of $2.51 billion for the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the company posted $1.60 earnings per share. The business's revenue for the quarter was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, sell-side analysts predict that Eastman Chemical Company will post 6.5 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical's payout ratio is presently 87.50%.

Analyst Ratings Changes

Several research analysts recently commented on EMN shares. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $74.00 price target on shares of Eastman Chemical in a report on Monday, August 3rd. Wall Street Zen raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Weiss Ratings reissued a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Royal Bank Of Canada lifted their target price on shares of Eastman Chemical from $69.00 to $74.00 and gave the company a "sector perform" rating in a report on Wednesday, August 5th. Finally, UBS Group upped their price target on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a "buy" rating in a research report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.17.

Eastman Chemical Company Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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