Janney Montgomery Scott LLC Decreases Stake in Eastman Chemical Company $EMN

Key Points

• Janney Montgomery Scott LLC has reduced its stake in Eastman Chemical Company by 39.2%, now owning 19,365 shares valued at approximately $1.45 million.
• Eastman Chemical reported Q2 earnings of $1.60 per share, missing analyst expectations, with revenues of $2.29 billion, down 3.2% from the previous year.
• The company announced a quarterly dividend of $0.83, representing a 5.7% yield, with a payout ratio of approximately 46.63%.

Janney Montgomery Scott LLC cut its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 39.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,365 shares of the basic materials company's stock after selling 12,503 shares during the quarter. Janney Montgomery Scott LLC's holdings in Eastman Chemical were worth $1,446,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in EMN. MassMutual Private Wealth & Trust FSB boosted its holdings in Eastman Chemical by 65.5% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock worth $28,000 after buying an additional 146 shares in the last quarter. National Pension Service boosted its stake in shares of 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. TD Private Client Wealth LLC grew its holdings in shares of Eastman Chemical by 46.4% in 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 during the period. Wayfinding Financial LLC purchased a new position in Eastman Chemical in the 1st quarter valued at approximately $50,000. Finally, Salem Investment Counselors Inc. increased its stake in 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. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $58.20 on Monday. The firm's 50-day moving average is $65.16 and its two-hundred day moving average is $73.77. 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 stock has a market capitalization of $6.68 billion, a P/E ratio of 8.17, a P/E/G ratio of 5.79 and a beta of 1.29. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $111.79.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $2.32 billion. Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business's quarterly revenue was down 3.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities analysts predict that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Investors of record on Monday, September 15th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a yield of 5.7%. The ex-dividend date was Monday, September 15th. Eastman Chemical's dividend payout ratio is presently 46.63%.

Analysts Set New Price Targets

A number of analysts have commented on the company. Weiss Ratings reiterated a "sell (d+)" rating on shares of Eastman Chemical in a research report on Wednesday, October 8th. UBS Group lowered their price objective on shares of Eastman Chemical from $86.00 to $75.00 and set a "buy" rating on the stock in a research note on Monday, October 6th. Mizuho cut their target price on shares of Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. The Goldman Sachs Group reduced their price target on shares of Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Finally, KeyCorp set a $79.00 price objective on shares of Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $85.54.

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.

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