First Citizens Bank & Trust Co. Sells 213,130 Shares of Eastman Chemical Company $EMN

Key Points

• First Citizens Bank & Trust slashed its Eastman Chemical stake by 95.4% in the first quarter, selling 213,130 shares and leaving it with 10,359 shares worth about $791,000.
• Eastman Chemical reported quarterly EPS of $1.09, slightly above estimates, while revenue came in at $2.18 billion and fell 4.9% from a year earlier. The company also guided Q2 2026 EPS to 1.70-1.90.
• The stock currently offers a 4.9% dividend yield with an annualized payout of $3.36 per share, but its payout ratio is high at 97.39%. Analysts remain split overall, with a consensus rating of Moderate Buy and an average price target of $80.50.

First Citizens Bank & Trust Co. decreased its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 95.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,359 shares of the basic materials company's stock after selling 213,130 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Eastman Chemical were worth $791,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Brighton Jones LLC bought a new stake in Eastman Chemical during the 4th quarter worth approximately $202,000. Integrated Wealth Concepts LLC boosted its position in shares of Eastman Chemical by 185.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock worth $589,000 after purchasing an additional 4,345 shares during the period. Millennium Management LLC boosted its position in shares of Eastman Chemical by 69.2% in the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock worth $17,098,000 after purchasing an additional 79,376 shares during the period. NewEdge Advisors LLC increased its stake in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock worth $644,000 after purchasing an additional 183 shares in the last quarter. Finally, United Services Automobile Association bought a new stake in shares of Eastman Chemical during the 1st quarter valued at $252,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Performance

NYSE EMN opened at $68.02 on Friday. The business's 50 day moving average price is $71.06 and its 200-day moving average price is $72.13. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company has a market cap of $7.78 billion, a P/E ratio of 19.72, a P/E/G ratio of 0.89 and a beta of 1.07. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the firm earned $1.91 earnings per share. Eastman Chemical's quarterly revenue was down 4.9% compared to the same quarter last year. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Sell-side analysts predict that Eastman Chemical Company will post 6.3 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 15th were paid a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.9%. Eastman Chemical's payout ratio is currently 97.39%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the company. UBS Group boosted their price target on Eastman Chemical from $80.00 to $88.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. The Goldman Sachs Group reiterated a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a research report on Thursday, July 16th. Citigroup dropped their target price on shares of Eastman Chemical from $88.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Royal Bank Of Canada raised their target price on shares of Eastman Chemical from $79.00 to $82.00 and gave the company a "sector perform" rating in a research note on Tuesday, May 5th. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a report on Monday, May 18th. Seven equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $80.50.

Eastman Chemical Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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