Russell Investments Group Ltd. Acquires 20,570 Shares of Eastman Chemical Company $EMN

Key Points

• Russell Investments Group Ltd. increased its holdings in Eastman Chemical Company by 51.9%, acquiring an additional 20,570 shares, bringing its total to 60,207 shares valued at approximately $5.3 million.
• Analysts have recently lowered their price targets for Eastman Chemical, with Goldman Sachs cutting their objective from $87 to $65 and maintaining a "neutral" rating.
• The company announced a quarterly dividend of $0.83 per share, reflecting a 5.0% dividend yield and a payout ratio of 46.63%.

Russell Investments Group Ltd. raised its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 51.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 60,207 shares of the basic materials company's stock after buying an additional 20,570 shares during the quarter. Russell Investments Group Ltd. owned about 0.05% of Eastman Chemical worth $5,302,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of EMN. Resona Asset Management Co. Ltd. raised its stake in shares of Eastman Chemical by 6.8% in the first quarter. Resona Asset Management Co. Ltd. now owns 38,228 shares of the basic materials company's stock valued at $3,360,000 after purchasing an additional 2,449 shares in the last quarter. Tlwm raised its stake in shares of Eastman Chemical by 3.6% in the first quarter. Tlwm now owns 9,154 shares of the basic materials company's stock valued at $807,000 after purchasing an additional 314 shares in the last quarter. Public Sector Pension Investment Board raised its stake in shares of Eastman Chemical by 8.0% in the first quarter. Public Sector Pension Investment Board now owns 15,577 shares of the basic materials company's stock valued at $1,372,000 after purchasing an additional 1,156 shares in the last quarter. Independent Advisor Alliance raised its stake in shares of Eastman Chemical by 571.7% in the first quarter. Independent Advisor Alliance now owns 16,974 shares of the basic materials company's stock valued at $1,496,000 after purchasing an additional 14,447 shares in the last quarter. Finally, CCM Investment Group LLC acquired a new position in shares of Eastman Chemical in the first quarter valued at $954,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

Eastman Chemical stock traded up $0.61 during mid-day trading on Wednesday, hitting $68.90. 1,028,753 shares of the company were exchanged, compared to its average volume of 2,048,086. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81. The business has a fifty day moving average of $72.62 and a 200 day moving average of $80.80. Eastman Chemical Company has a 1-year low of $56.78 and a 1-year high of $114.50. The company has a market capitalization of $7.91 billion, a PE ratio of 9.68, a price-to-earnings-growth ratio of 6.52 and a beta of 1.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its 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 business had revenue of $2.29 billion for 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 revenue for the quarter was down 3.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.15 EPS. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. As a group, sell-side analysts expect that Eastman Chemical Company will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 7th. Stockholders 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 4.8%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio is presently 46.63%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. The Goldman Sachs Group cut their target price 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 cut their target price on Eastman Chemical from $107.00 to $101.00 and set a "buy" rating for the company in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their target price on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating for the company in a research note on Tuesday, August 5th. Citigroup dropped their price objective on Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, August 4th. Finally, KeyCorp set a $79.00 price objective on Eastman Chemical and gave the stock an "overweight" rating in a research note on Monday, August 4th. Eight research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price 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.