Northern Trust Corp Has $122.82 Million Stock Holdings in Eastman Chemical Company $EMN

Key Points

• Northern Trust Corp increased its stake in Eastman Chemical Company by 1.2% during the first quarter, acquiring an additional 16,532 shares and now owning approximately 1.21% of the company valued at $122.8 million.
• Eastman Chemical's stock has recently seen several price target downgrades from major analysts, including Citigroup, Morgan Stanley, and JPMorgan Chase, reflecting a cautious outlook with an average target price of $87.00.
• The company plans to pay a quarterly dividend of $0.83 per share on October 7th, representing an annualized yield of 4.8%, with a payout ratio of 46.63%.

Northern Trust Corp boosted its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,393,932 shares of the basic materials company's stock after buying an additional 16,532 shares during the quarter. Northern Trust Corp owned 1.21% of Eastman Chemical worth $122,819,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. National Pension Service boosted its position 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 valued at $38,000 after purchasing an additional 186 shares in the last quarter. Orion Capital Management LLC acquired a new stake in Eastman Chemical during the fourth quarter valued at approximately $47,000. TD Private Client Wealth LLC boosted its holdings in Eastman Chemical by 46.4% during the first quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company's stock worth $47,000 after buying an additional 170 shares in the last quarter. Johnson Financial Group Inc. grew its position in Eastman Chemical by 68.5% in the fourth quarter. Johnson Financial Group Inc. now owns 556 shares of the basic materials company's stock worth $55,000 after buying an additional 226 shares during the last quarter. Finally, Wayfinding Financial LLC bought a new position in shares of Eastman Chemical in the first quarter valued at $50,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 1.6%

NYSE:EMN traded down $1.08 on Thursday, hitting $67.76. 137,974 shares of the company's stock traded hands, compared to its average volume of 1,541,386. The company has a market cap of $7.78 billion, a PE ratio of 9.51, a price-to-earnings-growth ratio of 6.52 and a beta of 1.21. Eastman Chemical Company has a 1 year low of $56.78 and a 1 year high of $114.50. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81. The firm has a 50-day moving average price of $72.62 and a 200-day moving average price of $80.80.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 EPS for the quarter, missing the consensus estimate of $1.72 by ($0.12). The company had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.32 billion. Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business's revenue for the quarter was down 3.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.15 earnings per share. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Equities analysts anticipate that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.9%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is currently 46.63%.

Analyst Ratings Changes

Several research firms have recently weighed in on EMN. The Goldman Sachs Group reduced their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating for the company in a research note on Thursday, August 7th. UBS Group decreased their price target on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research report on Wednesday, July 9th. Citigroup dropped their price target 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. Mizuho reduced their price objective 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 decreased their target price on shares of Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a report on Tuesday, August 5th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price 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.