ASR Vermogensbeheer N.V. Sells 7,239 Shares of Eastman Chemical Company $EMN

Key Points

• ASR Vermogensbeheer N.V. has significantly reduced its stake in Eastman Chemical by selling 7,239 shares, resulting in a total holding of 3,354 shares worth approximately $250,000.
• During the same period, several hedge funds increased their holdings in Eastman Chemical, with Dimensional Fund Advisors LP raising its stake by 8.5%.
• Eastman Chemical recently reported a missed earnings estimate for the last quarter, posting $1.60 earnings per share compared to the expected $1.72, alongside a decline in quarterly revenue of 3.2% year-over-year.

ASR Vermogensbeheer N.V. reduced its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 68.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,354 shares of the basic materials company's stock after selling 7,239 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Eastman Chemical were worth $250,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Dimensional Fund Advisors LP raised 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 purchasing an additional 202,740 shares during the last quarter. Northern Trust Corp increased its holdings in shares of 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 worth $122,819,000 after purchasing an additional 16,532 shares during the period. Bank of New York Mellon Corp raised its position in shares of Eastman Chemical by 1.1% during the first 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 buying an additional 13,886 shares during the last quarter. Truist Financial Corp lifted its stake in shares of Eastman Chemical by 9.3% in the first quarter. Truist Financial Corp now owns 1,265,857 shares of the basic materials company's stock valued at $111,535,000 after buying an additional 107,750 shares during the period. Finally, PNC Financial Services Group Inc. grew its position in Eastman Chemical by 2.0% during the first quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company's stock worth $84,810,000 after buying an additional 18,460 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Trading Down 0.6%

Shares of EMN opened at $63.99 on Monday. 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 company has a market cap of $7.35 billion, a price-to-earnings ratio of 8.99, a PEG ratio of 6.21 and a beta of 1.29. The stock has a fifty day moving average price of $66.16 and a two-hundred day moving average price of $74.74. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $111.79.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the business posted $2.15 earnings per share. The business's quarterly 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. Analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.2%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio is 46.63%.

Analyst Ratings Changes

Several analysts have recently weighed in on EMN shares. The Goldman Sachs Group decreased their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Citigroup lifted their price target on shares of Eastman Chemical from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday. Weiss Ratings restated a "sell (d+)" rating on shares of Eastman Chemical in a research note on Saturday, September 27th. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a research report on Monday, August 4th. Finally, Mizuho dropped their price target on shares of Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $87.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.