AQR Capital Management LLC Sells 61,231 Shares of Eastman Chemical Company $EMN

Key Points

• AQR Capital Management LLC reduced its stake in Eastman Chemical Company by 27.2%, selling 61,231 shares, leaving it with 163,938 shares valued at $14,240,000.
• Several institutional investors have altered their holdings in Eastman Chemical, with the National Pension Service increasing its stake by 75.3% and Salem Investment Counselors Inc. raising its holdings by 105.3%.
• Eastman Chemical's recent earnings report showed a miss on earnings per share at $1.60, below the analysts' expectation of $1.72, and a revenue decrease of 3.2% year-over-year.

AQR Capital Management LLC lessened its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 27.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 163,938 shares of the basic materials company's stock after selling 61,231 shares during the period. AQR Capital Management LLC owned 0.14% of Eastman Chemical worth $14,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of EMN. GAMMA Investing LLC increased its holdings in shares of Eastman Chemical by 11,261.1% during the 1st quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company's stock worth $42,023,000 after buying an additional 472,741 shares during the last quarter. Nuveen LLC acquired a new position in shares of Eastman Chemical in the first quarter worth $26,289,000. Atlantic Investment Management Inc. acquired a new position in shares of Eastman Chemical in the first quarter worth $22,167,000. Dimensional Fund Advisors LP lifted its position in shares of 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 worth $228,042,000 after purchasing an additional 202,740 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Eastman Chemical by 33.1% during the 1st quarter. Ameriprise Financial Inc. now owns 575,191 shares of the basic materials company's stock worth $50,700,000 after purchasing an additional 142,897 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Analysts Set New Price Targets

EMN has been the subject of a number of research reports. Wells Fargo & Company reduced their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Mizuho decreased their price target 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. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Citigroup decreased their price target on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a report on Monday, August 4th. Finally, The Goldman Sachs Group reduced their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company 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. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

Eastman Chemical Price Performance

Shares of EMN stock traded down $0.86 during mid-day trading on Friday, reaching $67.07. The company's stock had a trading volume of 1,631,061 shares, compared to its average volume of 1,295,958. Eastman Chemical Company has a 1-year low of $56.78 and a 1-year high of $114.50. The company has a market cap of $7.70 billion, a P/E ratio of 9.42, a PEG ratio of 6.54 and a beta of 1.25. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. The firm's 50-day moving average is $70.58 and its two-hundred day moving average is $78.14.

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 (EPS) for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The company's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, research analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed 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. The ex-dividend date of this dividend is Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a yield of 5.0%. Eastman Chemical's dividend payout ratio is currently 46.63%.

Eastman Chemical 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.