Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 18,900 Shares of Eastman Chemical Company $EMN

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its stake in Eastman Chemical by 57.1%, now holding 14,200 shares valued at approximately $1.25 million.
• Eastman Chemical reported earnings of $1.60 per share for the last quarter, missing analysts' estimates of $1.72 and reflecting a year-over-year revenue decline of 3.2%.
• The company declared a quarterly dividend of $0.83 per share with an annual yield of 5.1%, payable on October 7th to shareholders of record as of September 15th.

Fjarde AP Fonden Fourth Swedish National Pension Fund decreased its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 57.1% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,200 shares of the basic materials company's stock after selling 18,900 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Eastman Chemical were worth $1,251,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of EMN. Capital World Investors bought a new position in Eastman Chemical in the 4th quarter worth about $137,848,000. Capital Research Global Investors boosted its stake in Eastman Chemical by 13.4% in the 4th quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company's stock worth $537,561,000 after purchasing an additional 697,388 shares in the last quarter. GAMMA Investing LLC boosted its stake in Eastman Chemical by 11,261.1% in the 1st quarter. GAMMA Investing LLC now owns 476,939 shares of the basic materials company's stock worth $42,023,000 after purchasing an additional 472,741 shares in the last quarter. Nuveen LLC bought a new position in Eastman Chemical in the 1st quarter worth about $26,289,000. Finally, Albar Capital Partners LLP bought a new position in Eastman Chemical during the 4th quarter valued at about $12,930,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Performance

Shares of NYSE:EMN traded up $3.4420 during trading on Friday, hitting $69.4520. The company's stock had a trading volume of 1,397,348 shares, compared to its average volume of 2,046,609. The company has a 50-day moving average of $73.04 and a 200-day moving average of $81.32. Eastman Chemical Company has a 12 month low of $56.78 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 6.63 and a beta of 1.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.72 by ($0.12). The firm had revenue of $2.29 billion during 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 company's revenue was down 3.2% compared to the same quarter last year. During the same period in the prior 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, sell-side analysts expect 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. Shareholders of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is 46.63%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the stock. 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. The Goldman Sachs Group lowered their target price on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research note on Thursday, August 7th. Barclays lowered their target price on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a research note on Monday, August 4th. Finally, Morgan Stanley lowered their target price on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. 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.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $87.00.

About Eastman Chemical

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.