Earnest Partners LLC Sells 14,822 Shares of Eastman Chemical Company $EMN

Key Points

• Earnest Partners LLC reduced its stake in Eastman Chemical Company by 0.7%, holding approximately 2.26 million shares after selling 14,822 shares in the first quarter.
• Eastman Chemical reported a $1.60 EPS for the last quarter, missing estimates of $1.72, with revenue of $2.29 billion compared to expected $2.32 billion.
• The company also announced a quarterly dividend of $0.83, with an annualized yield of 4.9%, to be paid on October 7th.

Earnest Partners LLC lessened its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 0.7% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,263,005 shares of the basic materials company's stock after selling 14,822 shares during the period. Eastman Chemical accounts for about 1.0% of Earnest Partners LLC's portfolio, making the stock its 23rd largest position. Earnest Partners LLC owned 1.96% of Eastman Chemical worth $199,393,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in EMN. Brighton Jones LLC bought a new stake in shares of Eastman Chemical during the fourth quarter worth $202,000. Marshall Wace LLP acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $353,000. Tower Research Capital LLC TRC lifted its stake in shares of Eastman Chemical by 83.0% during the fourth quarter. Tower Research Capital LLC TRC now owns 5,816 shares of the basic materials company's stock valued at $531,000 after acquiring an additional 2,637 shares during the period. Kovitz Investment Group Partners LLC lifted its stake in shares of Eastman Chemical by 5.7% during the fourth quarter. Kovitz Investment Group Partners LLC now owns 7,539 shares of the basic materials company's stock valued at $688,000 after acquiring an additional 404 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Eastman Chemical during the fourth quarter valued at $3,334,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Up 3.1%

Shares of NYSE EMN traded up $2.08 during mid-day trading on Monday, reaching $70.26. 1,777,521 shares of the company's stock were exchanged, compared to its average volume of 1,586,580. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The firm has a market capitalization of $8.07 billion, a price-to-earnings ratio of 9.87, a PEG ratio of 6.72 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. The business has a fifty day simple moving average of $72.41 and a 200 day simple moving average of $80.08.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted 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 firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The firm's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, equities analysts expect that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

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 dividend of $0.83 per share. The ex-dividend date is Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 4.7%. Eastman Chemical's dividend payout ratio (DPR) is presently 46.63%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on EMN shares. Citigroup cut their price target 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. The Goldman Sachs Group cut their price target on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. 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. 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. Finally, Royal Bank Of Canada dropped their price target on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company presently 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.