Canada Post Corp Registered Pension Plan Sells 7,500 Shares of Eastman Chemical Company $EMN

Key Points

• Canada Post Corp Registered Pension Plan reduced its holdings in Eastman Chemical Company by 29.6% in Q1, selling 7,500 shares and now owning 17,814 shares valued at approximately $1.57 million.
• Wall Street analysts have lowered their price targets for Eastman Chemical, with the consensus rating currently at "Moderate Buy" and an average target price of $87.00.
• Eastman Chemical announced a quarterly dividend of $0.83 per share, resulting in an annual yield of 4.8%, with the dividend payout ratio at 46.63%.

Canada Post Corp Registered Pension Plan cut its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 29.6% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 17,814 shares of the basic materials company's stock after selling 7,500 shares during the quarter. Eastman Chemical makes up approximately 0.7% of Canada Post Corp Registered Pension Plan's portfolio, making the stock its 19th biggest position. Canada Post Corp Registered Pension Plan's holdings in Eastman Chemical were worth $1,570,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. National Pension Service raised its position in shares of Eastman Chemical by 75.3% in the 1st quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after acquiring an additional 186 shares in the last quarter. Orion Capital Management LLC bought a new position in shares of Eastman Chemical in the 4th quarter worth about $47,000. TD Private Client Wealth LLC raised its position in shares of Eastman Chemical by 46.4% in the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after acquiring an additional 170 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Eastman Chemical in the 1st quarter worth about $50,000. Finally, Salem Investment Counselors Inc. raised its position in shares of Eastman Chemical by 105.3% in the 1st quarter. Salem Investment Counselors Inc. now owns 618 shares of the basic materials company's stock worth $55,000 after acquiring an additional 317 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on EMN shares. Royal Bank Of Canada cut their price target 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. Mizuho cut their target price on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating on the stock in a research note on Friday, August 1st. UBS Group cut their target price on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Citigroup cut their target price on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Finally, KeyCorp set a $79.00 price objective on Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.00.

Eastman Chemical Stock Performance

Eastman Chemical stock traded down $0.86 during midday trading on Friday, reaching $67.07. The stock had a trading volume of 1,631,061 shares, compared to its average volume of 1,295,958. The firm has a market capitalization of $7.70 billion, a PE ratio of 9.42, a P/E/G ratio of 6.54 and a beta of 1.25. The firm's 50-day moving average price is $70.58 and its 200 day moving average price is $78.14. Eastman Chemical Company has a 12 month low of $56.78 and a 12 month high of $114.50. 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 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). The company had revenue of $2.29 billion for the quarter, compared to analysts' expectations of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The company's revenue was down 3.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, research analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders 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 5.0%. Eastman Chemical's dividend payout ratio is currently 46.63%.

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.