Eastman Chemical Company $EMN Shares Sold by DekaBank Deutsche Girozentrale

Key Points

• DekaBank Deutsche Girozentrale has decreased its stake in Eastman Chemical by 5.1% during the second quarter, now holding approximately 0.58% of the company valued at $50.65 million.
• Several analysts have recently revised their ratings and price targets for Eastman Chemical, with Goldman Sachs lowering its target from $87 to $65, while Wells Fargo increased its target from $70 to $80.
• Eastman Chemical reported $1.60 EPS for the last quarter, missing estimates, with a quarterly revenue of $2.29 billion, which is down 3.2% year-over-year.

DekaBank Deutsche Girozentrale trimmed its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 5.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 666,094 shares of the basic materials company's stock after selling 35,853 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.58% of Eastman Chemical worth $50,653,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. MassMutual Private Wealth & Trust FSB lifted its holdings in Eastman Chemical by 65.5% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock valued at $28,000 after purchasing an additional 146 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Eastman Chemical in the second quarter valued at approximately $32,000. National Pension Service lifted its stake in shares of Eastman Chemical by 75.3% during the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after buying an additional 186 shares during the period. TD Private Client Wealth LLC grew its stake in 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 during the period. Finally, Wayfinding Financial LLC acquired a new position in Eastman Chemical in the 1st quarter valued at $50,000. Institutional investors and hedge funds own 83.65% of the company's stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on EMN shares. Weiss Ratings restated a "sell (d+)" rating on shares of Eastman Chemical in a report on Wednesday, October 8th. The Goldman Sachs Group decreased 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. Mizuho dropped their price objective on shares of Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Wells Fargo & Company boosted their target price on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday, September 16th. Finally, Royal Bank Of Canada set a $71.00 price target on shares of Eastman Chemical in a research note on Tuesday, October 14th. Eight equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $82.62.

Eastman Chemical Stock Performance

NYSE:EMN opened at $62.17 on Wednesday. Eastman Chemical Company has a twelve month low of $56.78 and a twelve month high of $108.03. The firm's fifty day simple moving average is $65.08 and its 200 day simple moving average is $72.70. 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 $7.14 billion, a price-to-earnings ratio of 8.73, a PEG ratio of 6.21 and a beta of 1.29.

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 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 company 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 EPS. Eastman Chemical'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. As a group, equities research analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th were paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.3%. The ex-dividend date was Monday, September 15th. Eastman Chemical's dividend payout ratio is 46.63%.

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.