Raymond James Financial Inc. Lowers Position 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. lowered its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 35.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor 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.

Several other institutional investors and hedge funds have also recently modified their holdings of EMN. Brighton Jones LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at about $202,000. Townsquare Capital LLC raised its holdings in shares of Eastman Chemical by 36.0% during the 4th quarter. Townsquare Capital LLC now owns 2,869 shares of the basic materials company's stock valued at $262,000 after buying an additional 759 shares in the last quarter. Mariner LLC raised its holdings in shares of Eastman Chemical by 9.9% during the 4th quarter. Mariner LLC now owns 25,441 shares of the basic materials company's stock valued at $2,323,000 after buying an additional 2,288 shares in the last quarter. Marshall Wace LLP purchased a new position in shares of Eastman Chemical during the 4th quarter valued at about $353,000. Finally, GeoWealth Management LLC raised its holdings in shares of Eastman Chemical by 74.0% during the 4th quarter. GeoWealth Management LLC now owns 3,161 shares of the basic materials company's stock valued at $289,000 after buying an additional 1,344 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Wall Street Zen cut Eastman Chemical from a "buy" rating to a "hold" rating in a report on Monday, April 28th. The Goldman Sachs Group decreased their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a report on Thursday, August 7th. Wells Fargo & Company decreased their price objective on Eastman Chemical from $90.00 to $70.00 and set an "overweight" rating on the stock in a report on Monday, August 4th. KeyCorp set a $79.00 price objective on Eastman Chemical and gave the company an "overweight" rating in a report on Monday, August 4th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and set a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a research report on Monday, April 28th. Eight equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $87.00.

Eastman Chemical Trading Down 1.3%

Shares of EMN stock traded down $0.8990 during trading hours on Monday, reaching $68.5410. The company's stock had a trading volume of 1,103,258 shares, compared to its average volume of 2,026,438. The stock has a market capitalization of $7.87 billion, a P/E ratio of 9.63, a P/E/G ratio of 6.63 and a beta of 1.21. Eastman Chemical Company has a one year low of $56.78 and a one year high of $114.50. The firm's fifty day simple moving average is $72.87 and its 200 day simple moving average is $80.97. 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 issued its quarterly earnings data on Thursday, July 31st. The basic materials company reported $1.60 earnings per share 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%.Eastman Chemical's quarterly revenue 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 research analysts expect that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

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