Eastern Bank Reduces Stock Position in Eastman Chemical Company $EMN

Eastern Bank lessened its stake in shares of Eastman Chemical Company (NYSE:EMN) by 88.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,997 shares of the basic materials company’s stock after selling 136,896 shares during the quarter. Eastern Bank’s holdings in Eastman Chemical were worth $1,344,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB increased its position in Eastman Chemical by 65.5% during the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 369 shares of the basic materials company’s stock worth $28,000 after purchasing an additional 146 shares in the last quarter. Ameritas Advisory Services LLC purchased a new stake in Eastman Chemical in the 2nd quarter valued at about $32,000. National Pension Service grew its holdings in Eastman Chemical by 75.3% in the 1st quarter. National Pension Service now owns 433 shares of the basic materials company’s stock valued at $38,000 after buying an additional 186 shares during the period. TD Private Client Wealth LLC grew its holdings in Eastman Chemical by 46.4% in the 1st quarter. TD Private Client Wealth LLC now owns 536 shares of the basic materials company’s stock valued at $47,000 after buying an additional 170 shares during the period. Finally, Wayfinding Financial LLC purchased a new stake in Eastman Chemical in the 1st quarter valued at about $50,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Ratings Changes

EMN has been the subject of several recent analyst reports. UBS Group lowered their price target on Eastman Chemical from $86.00 to $75.00 and set a “buy” rating for the company in a report on Monday, October 6th. Royal Bank Of Canada lowered their price target on Eastman Chemical from $91.00 to $74.00 and set an “outperform” rating for the company in a report on Tuesday, August 5th. Weiss Ratings restated a “sell (d+)” rating on shares of Eastman Chemical in a report on Wednesday. Wells Fargo & Company lifted their price objective on Eastman Chemical from $70.00 to $80.00 and gave the company an “overweight” rating in a research note on Tuesday, September 16th. Finally, The Goldman Sachs Group reduced their price objective on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating on the stock in a research note on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $85.54.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $58.20 on Friday. The stock’s 50 day moving average price is $65.16 and its 200 day moving average price is $73.88. The firm has a market capitalization of $6.68 billion, a PE ratio of 8.17, a price-to-earnings-growth ratio of 5.79 and a beta of 1.29. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68. Eastman Chemical Company has a one year low of $56.78 and a one year high of $111.79.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. 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 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th were given a $0.83 dividend. This represents a $3.32 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date of this dividend was Monday, September 15th. Eastman Chemical’s dividend payout ratio 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.