Eastman Chemical Company $EMN Shares Bought by Brandywine Global Investment Management LLC

Key Points

• Brandywine Global Investment Management LLC increased its stake in Eastman Chemical Company by 24.2% in the 1st quarter, owning 178,232 shares valued at approximately $15.7 million.
• Several institutional investors have also boosted their positions in Eastman Chemical, with notable increases including a 75.3% increase by National Pension Service and a 68.5% increase by Johnson Financial Group Inc.
• Eastman Chemical reported a quarterly EPS of $1.60, missing estimates, while also declaring a dividend of $0.83 per share, reflecting a yield of 5.1%.

Brandywine Global Investment Management LLC increased its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 24.2% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 178,232 shares of the basic materials company's stock after acquiring an additional 34,750 shares during the quarter. Brandywine Global Investment Management LLC owned approximately 0.15% of Eastman Chemical worth $15,704,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Aberdeen Group plc increased its holdings in Eastman Chemical by 137.5% in the 1st quarter. Aberdeen Group plc now owns 65,802 shares of the basic materials company's stock worth $5,712,000 after acquiring an additional 38,093 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in Eastman Chemical by 8.5% in 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 acquiring an additional 202,740 shares in the last quarter. Holderness Investments Co. increased its holdings in Eastman Chemical by 1.2% in the 1st quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company's stock worth $922,000 after acquiring an additional 125 shares in the last quarter. William B. Walkup & Associates Inc. increased its holdings in Eastman Chemical by 1.8% in the 1st quarter. William B. Walkup & Associates Inc. now owns 43,971 shares of the basic materials company's stock worth $3,874,000 after acquiring an additional 761 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. increased its holdings in Eastman Chemical by 9.8% in the 1st quarter. Tokio Marine Asset Management Co. Ltd. now owns 3,994 shares of the basic materials company's stock worth $352,000 after acquiring an additional 356 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 0.1%

Shares of EMN traded up $0.0710 during mid-day trading on Wednesday, reaching $66.7810. The stock had a trading volume of 518,525 shares, compared to its average volume of 1,559,902. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. The business's fifty day moving average is $73.70 and its 200 day moving average is $82.03. The firm has a market cap of $7.67 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 6.28 and a beta of 1.21.

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). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same period in the prior year, the company posted $2.15 EPS. The company's revenue for the quarter 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. On average, sell-side analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on EMN shares. UBS Group dropped their target price on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a report on Wednesday, July 9th. Wells Fargo & Company dropped 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. Citigroup dropped their target price 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. Royal Bank Of Canada dropped their target price on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Finally, The Goldman Sachs Group dropped their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Eastman Chemical presently has an average 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.