Eastman Chemical Company $EMN Shares Sold by Royal Bank of Canada

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

Several other hedge funds and other institutional investors have also recently bought and sold shares of EMN. National Pension Service lifted its position in Eastman Chemical by 75.3% during 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 acquired a new position in Eastman Chemical during the 4th quarter worth approximately $47,000. TD Private Client Wealth LLC lifted its position in Eastman Chemical by 46.4% during 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 acquired a new position in shares of Eastman Chemical in the 1st quarter valued at approximately $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 valued at $55,000 after purchasing an additional 317 shares in the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on EMN. 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 report on Wednesday, July 9th. The Goldman Sachs Group cut their target price on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Royal Bank Of Canada cut their target price 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. KeyCorp set a $79.00 price target on Eastman Chemical and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, Wells Fargo & Company lowered their price target on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a report on Monday, August 4th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $87.00.

Eastman Chemical Price Performance

Shares of EMN opened at $65.04 on Thursday. The company has a market cap of $7.47 billion, a P/E ratio of 9.13, a PEG ratio of 6.46 and a beta of 1.25. The stock has a fifty day moving average price of $71.08 and a 200 day moving average price of $78.56. 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 Company has a 12 month low of $56.78 and a 12 month high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). The company 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%.Eastman Chemical's quarterly revenue was down 3.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, research analysts forecast that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be paid a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio is presently 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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