Amundi Acquires 37,326 Shares of Eastman Chemical Company $EMN

Key Points

• Amundi increased its stake in Eastman Chemical Company by 39.2% in Q1, now owning 132,487 shares valued at approximately $11.67 million.
• Multiple institutional investors, including GAMMA Investing LLC and Ameriprise Financial Inc., have significantly boosted their holdings in Eastman Chemical, contributing to institutional ownership reaching 83.65%.
• Eastman Chemical recently announced a quarterly dividend of $0.83, representing an annual yield of 4.9%, with the payout date set for October 7th.

Amundi increased its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 39.2% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 132,487 shares of the basic materials company's stock after purchasing an additional 37,326 shares during the period. Amundi owned approximately 0.11% of Eastman Chemical worth $11,673,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its stake in Eastman Chemical by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company's stock valued at $228,042,000 after acquiring an additional 202,740 shares in the last quarter. Northern Trust Corp lifted its stake in Eastman Chemical by 1.2% during the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company's stock valued at $122,819,000 after acquiring an additional 16,532 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Eastman Chemical by 1.1% during the 1st quarter. Bank of New York Mellon Corp now owns 1,279,279 shares of the basic materials company's stock valued at $112,717,000 after acquiring an additional 13,886 shares in the last quarter. Truist Financial Corp lifted its stake in Eastman Chemical by 9.3% during the 1st quarter. Truist Financial Corp now owns 1,265,857 shares of the basic materials company's stock valued at $111,535,000 after acquiring an additional 107,750 shares in the last quarter. Finally, PNC Financial Services Group Inc. lifted its stake in Eastman Chemical by 2.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company's stock valued at $84,810,000 after acquiring an additional 18,460 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

EMN traded down $0.86 during trading hours on Friday, hitting $67.07. The stock had a trading volume of 1,631,061 shares, compared to its average volume of 1,295,958. The company's fifty day simple moving average is $70.58 and its 200 day simple moving average is $78.14. Eastman Chemical Company has a 1 year low of $56.78 and a 1 year high of $114.50. The stock has a market cap of $7.70 billion, a PE ratio of 9.42, a price-to-earnings-growth ratio of 6.54 and a beta of 1.25. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period last year, the business posted $2.15 EPS. The company's revenue was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's payout ratio is presently 46.63%.

Analysts Set New Price Targets

Several research firms have recently issued reports on EMN. Mizuho reduced their target price on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a report on Friday, August 1st. Royal Bank Of Canada reduced their target price on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Citigroup lowered their target price on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Wells Fargo & Company lowered their target price on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, The Goldman Sachs Group lowered their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

About Eastman Chemical

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.