Eastman Chemical Company $EMN Shares Sold by Mutual Advisors LLC

Mutual Advisors LLC cut its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 36.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 7,580 shares of the basic materials company's stock after selling 4,356 shares during the quarter. Mutual Advisors LLC's holdings in Eastman Chemical were worth $594,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in shares of 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 valued at $228,042,000 after purchasing an additional 202,740 shares during the period. Northern Trust Corp boosted its position in shares of Eastman Chemical by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company's stock valued at $122,819,000 after purchasing an additional 16,532 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Eastman Chemical by 1.1% in the 1st 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 purchasing an additional 13,886 shares during the period. Truist Financial Corp raised its stake in Eastman Chemical by 9.3% during the 1st quarter. Truist Financial Corp now owns 1,265,857 shares of the basic materials company's stock valued at $111,535,000 after acquiring an additional 107,750 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in Eastman Chemical by 2.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company's stock valued at $84,810,000 after acquiring an additional 18,460 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have commented on EMN shares. Weiss Ratings reaffirmed a "sell (d+)" rating on shares of Eastman Chemical in a research note on Wednesday, October 8th. 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. Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a research note on Tuesday, October 14th. Mizuho reduced their price objective on Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Finally, The Goldman Sachs Group reduced their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. Eight investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $82.62.

Eastman Chemical Stock Performance

Shares of EMN stock opened at $61.39 on Monday. The company has a market cap of $7.05 billion, a price-to-earnings ratio of 8.62, a price-to-earnings-growth ratio of 6.18 and a beta of 1.29. The stock has a 50 day simple moving average of $65.10 and a 200-day simple moving average of $72.87. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $110.05. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued 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). The business 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 business's quarterly revenue was down 3.2% on a year-over-year basis. During the same period last year, the company posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, equities analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 15th were issued a $0.83 dividend. The ex-dividend date was Monday, September 15th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.4%. Eastman Chemical's dividend payout ratio is currently 46.63%.

Eastman Chemical Company 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.

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