Amundi Boosts Stock Holdings in 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 lifted its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 39.2% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 132,487 shares of the basic materials company's stock after buying 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 reporting period.

A number of other hedge funds also recently modified their holdings of the stock. Perbak Capital Partners LLP bought a new stake in shares of Eastman Chemical in the 1st quarter worth approximately $337,000. Panagora Asset Management Inc. raised its holdings in shares of Eastman Chemical by 189.8% in the 1st quarter. Panagora Asset Management Inc. now owns 21,627 shares of the basic materials company's stock worth $1,906,000 after purchasing an additional 14,165 shares during the period. Vident Advisory LLC raised its holdings in shares of Eastman Chemical by 49.2% in the 1st quarter. Vident Advisory LLC now owns 3,796 shares of the basic materials company's stock worth $334,000 after purchasing an additional 1,251 shares during the period. State of Wyoming raised its holdings in shares of Eastman Chemical by 11.3% in the 1st quarter. State of Wyoming now owns 1,968 shares of the basic materials company's stock worth $173,000 after purchasing an additional 200 shares during the period. Finally, Trexquant Investment LP raised its holdings in shares of Eastman Chemical by 59.3% in the 1st quarter. Trexquant Investment LP now owns 149,055 shares of the basic materials company's stock worth $13,133,000 after purchasing an additional 55,498 shares during the period. Institutional investors own 83.65% of the company's stock.

Wall Street Analyst Weigh In

EMN has been the topic of a number of research reports. Royal Bank Of Canada lowered their price target on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a report on Tuesday, August 5th. Wells Fargo & Company lowered their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. The Goldman Sachs Group lowered their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Mizuho lowered their target price on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a report on Friday, August 1st. Finally, Citigroup lowered their target price on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Eight research 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.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

Eastman Chemical Price Performance

NYSE:EMN traded down $2.00 during midday trading on Monday, hitting $65.16. The company had a trading volume of 1,143,149 shares, compared to its average volume of 1,306,804. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. The stock's fifty day moving average price is $70.32 and its 200-day moving average price is $77.64. The company has a market capitalization of $7.48 billion, a PE ratio of 9.15, a P/E/G ratio of 6.47 and a beta of 1.26. 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 posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the company earned $2.15 earnings per share. The business's quarterly revenue was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, research analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be paid a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is presently 46.63%.

Eastman Chemical Company 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.