Korea Investment CORP Sells 30,900 Shares of Eastman Chemical Company $EMN

Key Points

• Korea Investment CORP has reduced its stake in Eastman Chemical Company by 22.6%, selling 30,900 shares and now owning 106,094 shares valued at approximately $9.3 million.
• Eastman Chemical's latest earnings report showed a missed earnings per share estimate, reporting $1.60 versus the expected $1.72, with quarterly revenue down 3.2% year-over-year.
• The company declared a quarterly dividend of $0.83 per share, resulting in an annual yield of 5.0%, with an ex-dividend date on September 15th.

Korea Investment CORP cut its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 22.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 106,094 shares of the basic materials company's stock after selling 30,900 shares during the period. Korea Investment CORP owned 0.09% of Eastman Chemical worth $9,348,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Northern Trust Corp raised its position in Eastman Chemical by 1.2% in the first quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company's stock worth $122,819,000 after acquiring an additional 16,532 shares during the period. Versor Investments LP grew its stake in Eastman Chemical by 52.2% during the first quarter. Versor Investments LP now owns 10,200 shares of the basic materials company's stock valued at $899,000 after acquiring an additional 3,500 shares in the last quarter. Steward Partners Investment Advisory LLC grew its stake in Eastman Chemical by 213.8% during the first quarter. Steward Partners Investment Advisory LLC now owns 45,666 shares of the basic materials company's stock valued at $4,024,000 after acquiring an additional 31,115 shares in the last quarter. Brandywine Global Investment Management LLC grew its stake in shares of Eastman Chemical by 24.2% in the 1st quarter. Brandywine Global Investment Management LLC now owns 178,232 shares of the basic materials company's stock worth $15,704,000 after buying an additional 34,750 shares in the last quarter. Finally, Aberdeen Group plc grew its stake in shares of Eastman Chemical by 137.5% in the 1st quarter. Aberdeen Group plc now owns 65,802 shares of the basic materials company's stock worth $5,712,000 after buying an additional 38,093 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Up 0.9%

Shares of NYSE:EMN traded up $0.61 during trading on Wednesday, reaching $68.90. 1,028,753 shares of the company were exchanged, compared to its average volume of 2,048,086. The business's fifty day simple moving average is $72.62 and its 200-day simple moving average is $80.80. 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. The firm has a market capitalization of $7.91 billion, a PE ratio of 9.68, a P/E/G ratio of 6.52 and a beta of 1.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing the consensus estimate 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 for the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the firm posted $2.15 EPS. The business's revenue was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, research analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th will be issued a $0.83 dividend. The ex-dividend date is Monday, September 15th. This represents a $3.32 annualized dividend and a dividend yield of 4.8%. Eastman Chemical's payout ratio is currently 46.63%.

Analyst Upgrades and Downgrades

A number of brokerages have commented on EMN. Wells Fargo & Company dropped their price objective on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research note on Monday, August 4th. UBS Group dropped their price objective on shares of Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Barclays dropped their price target on shares of Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Mizuho dropped their price target on shares of Eastman Chemical from $92.00 to $80.00 and set an "outperform" rating for the company in a research note on Friday, August 1st. Finally, Royal Bank Of Canada dropped their price target on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Eight research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, Eastman Chemical presently has a consensus rating of "Moderate Buy" and a consensus target price of $87.00.

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.