Northern Trust Corp Buys 16,532 Shares of 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 lifted its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 1.2% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,393,932 shares of the basic materials company's stock after acquiring an additional 16,532 shares during the period. Northern Trust Corp owned approximately 1.21% of Eastman Chemical worth $122,819,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. National Pension Service raised its position in shares of Eastman Chemical by 75.3% in the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock worth $38,000 after buying an additional 186 shares in the last quarter. Orion Capital Management LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth $47,000. TD Private Client Wealth LLC raised its position in shares of Eastman Chemical by 46.4% in 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. raised its position in shares of 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 in the last quarter. Finally, Wayfinding Financial LLC purchased a new stake in shares of Eastman Chemical in the first quarter worth $50,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. Citigroup lowered their price objective on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research report on Monday, August 4th. Morgan Stanley lowered their price objective on Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a research report on Monday, April 28th. JPMorgan Chase & Co. reissued a "neutral" rating and issued a $76.00 target price (down previously from $112.00) on shares of Eastman Chemical in a research note on Monday, April 28th. Barclays reduced their target price on Eastman Chemical from $108.00 to $85.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Finally, UBS Group reduced their target price on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating on the stock in a research note on Wednesday, July 9th. Eight equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Eastman Chemical presently has a consensus rating of "Moderate Buy" and an average target price of $87.00.

Eastman Chemical Stock Up 5.2%

Shares of NYSE:EMN opened at $69.4520 on Friday. The stock's 50-day moving average price is $73.04 and its 200-day moving average price is $81.46. Eastman Chemical Company has a 12-month low of $56.78 and a 12-month high of $114.50. The stock has a market capitalization of $7.98 billion, a P/E ratio of 9.75, a price-to-earnings-growth ratio of 6.31 and a beta of 1.21. The company has a current ratio of 1.68, a quick ratio of 0.78 and a debt-to-equity ratio of 0.81.

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 analysts' consensus estimates 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 last year, the business posted $2.15 earnings per share. The firm's quarterly revenue was down 3.2% compared to the same quarter last year. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, equities analysts anticipate that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

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

Eastman Chemical Company 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.

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