Magnetar Financial LLC Sells 40,525 Shares of Eastman Chemical Company $EMN

Key Points

• Magnetar Financial LLC significantly reduced its stake in Eastman Chemical Company, selling 40,525 shares to hold only 3,731 shares valued at $329,000, a 91.6% decrease.
• Eastman Chemical recently reported quarterly earnings that fell short of expectations, with $1.60 EPS compared to the consensus estimate of $1.72, alongside a revenue decrease of 3.2% year-over-year.
• The company announced a quarterly dividend of $0.83 per share, reflecting an annualized yield of 4.7%, with the payout ratio currently at 46.63%.

Magnetar Financial LLC lowered its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 91.6% in the first quarter, according to the company in its most recent filing with the SEC. The firm owned 3,731 shares of the basic materials company's stock after selling 40,525 shares during the quarter. Magnetar Financial LLC's holdings in Eastman Chemical were worth $329,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. raised its holdings in Eastman Chemical by 5.9% in the 1st quarter. Principal Financial Group Inc. now owns 155,509 shares of the basic materials company's stock worth $13,702,000 after purchasing an additional 8,708 shares during the period. OneDigital Investment Advisors LLC increased its stake in shares of Eastman Chemical by 36.9% in the 1st quarter. OneDigital Investment Advisors LLC now owns 3,029 shares of the basic materials company's stock worth $267,000 after acquiring an additional 816 shares during the last quarter. Teacher Retirement System of Texas acquired a new position in Eastman Chemical in the 1st quarter valued at about $1,494,000. Farther Finance Advisors LLC lifted its stake in shares of Eastman Chemical by 12.8% in the 1st quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 214 shares during the last quarter. Finally, Golden State Wealth Management LLC increased its position in shares of Eastman Chemical by 882.3% during the first quarter. Golden State Wealth Management LLC now owns 943 shares of the basic materials company's stock valued at $83,000 after acquiring an additional 847 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

EMN has been the topic of a number of research reports. KeyCorp set a $79.00 target price on shares of Eastman Chemical and gave the stock an "overweight" rating in a report on Monday, August 4th. UBS Group reduced their price objective on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Wells Fargo & Company reduced their price target on shares of Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating for the company in a research report on Monday, August 4th. Royal Bank Of Canada decreased their price target on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research note on Tuesday, August 5th. Finally, Citigroup reduced their price objective on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Eight investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eastman Chemical currently has a consensus rating of "Moderate Buy" and an average price target of $87.00.

Eastman Chemical Stock Up 0.5%

EMN traded up $0.37 on Friday, reaching $68.97. 1,172,170 shares of the company traded hands, compared to its average volume of 1,264,518. The company has a market cap of $7.92 billion, a price-to-earnings ratio of 9.69, a PEG ratio of 6.60 and a beta of 1.26. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. The stock's 50 day moving average price is $71.71 and its 200-day moving average price is $78.94. 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 (NYSE:EMN - Get Free Report) last posted 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 business had revenue of $2.29 billion during 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%.The company's revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the firm 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 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

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

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.