NewEdge Advisors LLC Lowers Holdings in Eastman Chemical Company $EMN

Key Points

• NewEdge Advisors reduced its Eastman Chemical stake by 38% in the second quarter, selling 23,849 shares and retaining 38,980 shares worth approximately $2.6 million.
• Institutional ownership remains high at 83.65%, with major investors including BlackRock, Norges Bank, Legal & General, and Bank of New York Mellon establishing or increasing positions.
• Eastman Chemical reported quarterly EPS of $1.97, exceeding estimates of $1.82, and announced a quarterly dividend of $0.84 per share, representing a 5.1% annualized yield. Analysts’ average rating is “Hold,” with an average price target of $79.17 versus the stock’s $66.35 price.

NewEdge Advisors LLC lowered its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 38.0% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 38,980 shares of the basic materials company's stock after selling 23,849 shares during the period. NewEdge Advisors LLC's holdings in Eastman Chemical were worth $2,611,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of EMN. BlackRock Inc. acquired a new stake in Eastman Chemical during the second quarter worth about $1,134,421,000. Norges Bank purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $95,621,000. Legal & General Group Plc acquired a new position in Eastman Chemical in the second quarter valued at approximately $87,583,000. Bank of New York Mellon Corp acquired a new position in Eastman Chemical in the second quarter valued at approximately $81,645,000. Finally, Allspring Global Investments Holdings LLC boosted its position in Eastman Chemical by 39.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company's stock worth $196,552,000 after purchasing an additional 732,693 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Stock Up 2.0%

NYSE EMN opened at $66.35 on Friday. The business has a fifty day moving average price of $70.58 and a 200 day moving average price of $71.59. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. The company has a market cap of $7.59 billion, a P/E ratio of 17.28, a P/E/G ratio of 0.80 and a beta of 1.07.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. The company had revenue of $2.51 billion for the quarter, compared to analysts' expectations of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Research analysts anticipate that Eastman Chemical Company will post 6.48 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 5.1%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical's payout ratio is currently 87.50%.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on EMN shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Citigroup lowered their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Eastman Chemical in a research report on Thursday, August 13th. UBS Group lifted their price objective on shares of Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, Morgan Stanley decreased their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Six equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, Eastman Chemical has an average rating of "Hold" and an average price target of $79.17.

Eastman Chemical Company Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.

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