Raymond James Financial Inc. Has $93.80 Million Holdings in Eastman Chemical Company $EMN

Key Points

• Raymond James Financial Inc. has reduced its stake in Eastman Chemical by 35.4%, owning approximately 1,064,534 shares valued at $93.8 million after selling 583,926 shares in the first quarter.
• Several institutional investors have modified their positions, with GAMMA Investing LLC increasing its stake by an astounding 11,261.1%, now holding 476,939 shares worth $42 million.
• Eastman Chemical recently announced a quarterly dividend of $0.83, which represents a 5.0% yield, and will be paid out on October 7th to shareholders of record as of September 15th.

Raymond James Financial Inc. lessened its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 35.4% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,064,534 shares of the basic materials company's stock after selling 583,926 shares during the period. Raymond James Financial Inc. owned approximately 0.92% of Eastman Chemical worth $93,796,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its holdings in shares of Eastman Chemical by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company's stock worth $228,042,000 after purchasing an additional 202,740 shares during the period. Earnest Partners LLC raised its position in shares of Eastman Chemical by 1.6% in the fourth quarter. Earnest Partners LLC now owns 2,277,827 shares of the basic materials company's stock valued at $208,011,000 after purchasing an additional 35,793 shares during the period. Northern Trust Corp increased its position in Eastman Chemical by 10.3% during the fourth quarter. Northern Trust Corp now owns 1,377,400 shares of the basic materials company's stock worth $125,784,000 after acquiring an additional 128,488 shares during the period. Bank of New York Mellon Corp increased its position in Eastman Chemical by 1.1% during the first quarter. Bank of New York Mellon Corp now owns 1,279,279 shares of the basic materials company's stock worth $112,717,000 after acquiring an additional 13,886 shares during the period. Finally, Truist Financial Corp increased its holdings in Eastman Chemical by 9.3% in the 1st quarter. Truist Financial Corp now owns 1,265,857 shares of the basic materials company's stock valued at $111,535,000 after buying an additional 107,750 shares during the period. Institutional investors and hedge funds own 83.65% of the company's stock.

Eastman Chemical Price Performance

NYSE EMN traded up $3.4420 on Friday, hitting $69.4520. 1,397,348 shares of the company were exchanged, compared to its average volume of 2,046,609. The firm has a 50 day moving average of $73.04 and a two-hundred day moving average of $81.46. The company has a market cap of $7.98 billion, a P/E ratio of 9.75, a P/E/G 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 Company has a 1-year low of $56.78 and a 1-year high of $114.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (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 firm's quarterly revenue was down 3.2% on a year-over-year basis. During the same quarter last year, the company earned $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. On average, equities analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on EMN. Morgan Stanley lowered their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. Citigroup reduced their target price on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating on the stock in a research note on Monday, August 4th. Barclays reduced their target price on shares of 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. JPMorgan Chase & Co. restated 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. Finally, Royal Bank Of Canada reduced their target price 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. 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, the stock presently has a consensus rating of "Moderate Buy" and an average price target 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.