Royal Bank of Canada Has $12.87 Million Stake in Eastman Chemical Company $EMN

Key Points

• Royal Bank of Canada has significantly reduced its stake in Eastman Chemical Company by 68.8%, now holding 146,081 shares after selling 321,706 shares in Q1.
• Despite recent downgrades from various brokerages, Eastman Chemical has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.
• Eastman Chemical recently announced a quarterly dividend of $0.83 per share, with a yield of 5.1%, reflecting a dividend payout ratio of 46.63%.

Royal Bank of Canada decreased its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 68.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 146,081 shares of the basic materials company's stock after selling 321,706 shares during the quarter. Royal Bank of Canada owned 0.13% of Eastman Chemical worth $12,871,000 as of its most recent filing with the SEC.

Several other hedge funds have also made changes to their positions in the stock. National Pension Service increased its stake in 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 acquiring an additional 186 shares during the period. Orion Capital Management LLC bought a new stake in Eastman Chemical in the fourth quarter valued at about $47,000. TD Private Client Wealth LLC raised its position in Eastman Chemical by 46.4% in the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after purchasing an additional 170 shares in the last quarter. Wayfinding Financial LLC bought a new position in Eastman Chemical during the first quarter worth about $50,000. Finally, Salem Investment Counselors Inc. grew its stake 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 valued at $55,000 after purchasing an additional 317 shares during the period. Institutional investors own 83.65% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently commented on EMN shares. The Goldman Sachs Group cut their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research report on Thursday, August 7th. Mizuho dropped their price objective on Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the company an "overweight" rating in a research note on Monday, August 4th. Citigroup lowered their target price on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a report on Monday, August 4th. Finally, Wells Fargo & Company lifted their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "overweight" rating in a report on Tuesday. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and an average price target of $87.77.

Eastman Chemical Price Performance

Shares of EMN stock traded up $0.79 during trading hours on Tuesday, reaching $65.94. 1,084,911 shares of the company were exchanged, compared to its average volume of 1,303,943. Eastman Chemical Company has a fifty-two week low of $56.78 and a fifty-two week high of $114.50. The stock's fifty day moving average is $70.03 and its two-hundred day moving average is $77.56. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 9.26, a P/E/G ratio of 6.28 and a beta of 1.25. 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 (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share 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 period in the prior year, the business earned $2.15 EPS. The business's revenue for the quarter was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Sell-side analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 5.0%. Eastman Chemical's payout ratio is presently 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.