Eastman Chemical Company $EMN Position Reduced by AQR Capital Management LLC

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 trimmed its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 27.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 163,938 shares of the basic materials company's stock after selling 61,231 shares during the quarter. AQR Capital Management LLC owned 0.14% of Eastman Chemical worth $14,240,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. National Pension Service grew its stake in Eastman Chemical by 75.3% in the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after purchasing an additional 186 shares in the last quarter. Orion Capital Management LLC acquired a new position in Eastman Chemical in the fourth quarter worth about $47,000. TD Private Client Wealth LLC grew its stake in Eastman Chemical by 46.4% in the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Wayfinding Financial LLC acquired a new position in Eastman Chemical in the first quarter worth about $50,000. Finally, Salem Investment Counselors Inc. grew its stake in Eastman Chemical by 105.3% in the first quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after purchasing an additional 317 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

Shares of NYSE EMN traded down $2.00 during midday trading on Monday, hitting $65.16. 1,143,149 shares of the company's stock were exchanged, compared to its average volume of 1,306,804. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The stock's 50 day moving average price is $70.32 and its 200-day moving average price is $77.64. The firm has a market cap of $7.48 billion, a P/E ratio of 9.15, a PEG ratio of 6.47 and a beta of 1.26. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data 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). The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be given a dividend of $0.83 per share. The ex-dividend date is Monday, September 15th. This represents a $3.32 annualized dividend and a dividend yield of 5.1%. Eastman Chemical's payout ratio is currently 46.63%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on EMN. UBS Group decreased their price target on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. KeyCorp set a $79.00 price target on Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Mizuho decreased their price target on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Wells Fargo & Company decreased their target price on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. Finally, Royal Bank Of Canada decreased their target price on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat.com, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $87.00.

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.