US Bancorp DE Sells 8,127 Shares of Eastman Chemical Company $EMN

Key Points

• US Bancorp DE has reduced its stake in Eastman Chemical Company by 14.4%, selling 8,127 shares in the second quarter, leaving it with a total of 48,135 shares valued at approximately $3.59 million.
• Several institutional investors have significantly increased their positions in Eastman Chemical, with SG Americas Securities LLC boosting its stake by 618.3% during the first quarter.
• Analysts have recently lowered their price targets for Eastman Chemical, with projections ranging from $65.00 to $75.00, although the stock still holds an average rating of "Moderate Buy".

US Bancorp DE decreased its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 14.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 48,135 shares of the basic materials company's stock after selling 8,127 shares during the quarter. US Bancorp DE's holdings in Eastman Chemical were worth $3,594,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMN. Brighton Jones LLC bought a new position in shares of Eastman Chemical during the 4th quarter worth $202,000. Farther Finance Advisors LLC boosted its position in Eastman Chemical by 12.8% during the first quarter. Farther Finance Advisors LLC now owns 1,890 shares of the basic materials company's stock valued at $167,000 after purchasing an additional 214 shares in the last quarter. GAMMA Investing LLC boosted its position in Eastman Chemical by 28.9% during the first quarter. GAMMA Investing LLC now owns 5,413 shares of the basic materials company's stock valued at $477,000 after purchasing an additional 1,215 shares in the last quarter. SG Americas Securities LLC boosted its position in Eastman Chemical by 618.3% during the first quarter. SG Americas Securities LLC now owns 22,446 shares of the basic materials company's stock valued at $1,978,000 after purchasing an additional 19,321 shares in the last quarter. Finally, Assenagon Asset Management S.A. bought a new stake in Eastman Chemical during the first quarter valued at about $2,809,000. Institutional investors own 83.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Royal Bank Of Canada dropped their price objective on Eastman Chemical from $91.00 to $74.00 and set an "outperform" rating on the stock in a research report on Tuesday, August 5th. Citigroup raised their price objective on Eastman Chemical from $68.00 to $70.00 and gave the company a "buy" rating in a research report on Thursday, October 2nd. UBS Group dropped their price objective on Eastman Chemical from $86.00 to $75.00 and set a "buy" rating on the stock in a research report on Monday, October 6th. The Goldman Sachs Group dropped their price objective on Eastman Chemical from $87.00 to $65.00 and set a "neutral" rating on the stock in a research report on Thursday, August 7th. Finally, Mizuho decreased their price target on Eastman Chemical from $80.00 to $75.00 and set an "outperform" rating for the company in a research note on Friday, October 3rd. Eight research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.54.

Eastman Chemical Trading Up 3.2%

Shares of NYSE:EMN opened at $60.09 on Tuesday. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $111.79. The stock has a market cap of $6.90 billion, a price-to-earnings ratio of 8.44, a PEG ratio of 5.79 and a beta of 1.29. 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 50-day moving average price of $65.14 and a 200-day moving average price of $73.58.

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 the consensus estimate of $1.72 by ($0.12). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The firm had revenue of $2.29 billion during the quarter, compared to analysts' expectations of $2.32 billion. During the same quarter in the previous year, the business earned $2.15 earnings per share. The company's revenue for the quarter 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. Equities analysts predict that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 7th. Stockholders of record on Monday, September 15th were paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 5.5%. The ex-dividend date was Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is presently 46.63%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.