TD Asset Management Inc Sells 10,107 Shares of Eastman Chemical Company $EMN

Key Points

• TD Asset Management Inc has decreased its stake in Eastman Chemical Company by 32.6%, selling 10,107 shares in the second quarter, leaving it with 20,901 shares valued at approximately $1.56 million.
• Analysts have varying price targets for Eastman Chemical, with Citigroup raising its target to $70.00 and Wells Fargo increasing it to $80.00, reflecting a consensus rating of "Moderate Buy".
• The company recently announced a quarterly dividend of $0.83 per share, resulting in a 5.4% dividend yield for investors.

TD Asset Management Inc reduced its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 32.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,901 shares of the basic materials company's stock after selling 10,107 shares during the quarter. TD Asset Management Inc's holdings in Eastman Chemical were worth $1,560,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. MassMutual Private Wealth & Trust FSB lifted its holdings in Eastman Chemical by 65.5% in the second quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company's stock valued at $28,000 after acquiring an additional 146 shares during the period. Ameritas Advisory Services LLC bought a new position in Eastman Chemical in the second quarter valued at about $32,000. National Pension Service lifted its holdings in Eastman Chemical by 75.3% in the first quarter. National Pension Service now owns 433 shares of the basic materials company's stock valued at $38,000 after acquiring an additional 186 shares during the period. TD Private Client Wealth LLC lifted its holdings in 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 valued at $47,000 after acquiring an additional 170 shares during the period. Finally, Wayfinding Financial LLC bought a new position in Eastman Chemical in the first quarter valued at about $50,000. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently commented on EMN. Citigroup raised their price objective on Eastman Chemical from $68.00 to $70.00 and gave the stock a "buy" rating in a research note on Thursday, October 2nd. Royal Bank Of Canada set a $71.00 price objective on Eastman Chemical in a research note on Tuesday, October 14th. Wells Fargo & Company raised their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an "overweight" rating in a research note on Tuesday, September 16th. Mizuho cut their target price on Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research report on Friday, October 3rd. Finally, UBS Group cut their target price on Eastman Chemical from $86.00 to $75.00 and set a "buy" rating for the company in a research report on Monday, October 6th. Eight analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of "Moderate Buy" and a consensus price target of $82.62.

Eastman Chemical Stock Performance

NYSE EMN opened at $61.15 on Thursday. The stock has a market capitalization of $7.02 billion, a PE ratio of 8.59, a P/E/G ratio of 6.27 and a beta of 1.29. The business has a 50 day simple moving average of $64.97 and a two-hundred day simple moving average of $72.62. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78. Eastman Chemical Company has a 1-year low of $56.78 and a 1-year high of $108.03.

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

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th were given a dividend of $0.83 per share. The ex-dividend date of this dividend was Monday, September 15th. This represents a $3.32 annualized dividend and a dividend yield of 5.4%. Eastman Chemical's payout ratio 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.

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