Eastman Chemical Company $EMN Stock Position Trimmed by State of Alaska Department of Revenue

State of Alaska Department of Revenue decreased its position in shares of Eastman Chemical Company (NYSE:EMN) by 21.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 59,201 shares of the basic materials company’s stock after selling 16,034 shares during the quarter. State of Alaska Department of Revenue’s holdings in Eastman Chemical were worth $3,837,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Elevation Wealth Partners LLC bought a new stake in shares of Eastman Chemical during the third quarter worth $25,000. Altshuler Shaham Ltd lifted its stake in shares of Eastman Chemical by 36.9% during the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock valued at $41,000 after acquiring an additional 145 shares during the period. Continuum Advisory LLC acquired a new position in shares of Eastman Chemical during the second quarter valued at $40,000. Quantbot Technologies LP bought a new position in Eastman Chemical in the second quarter valued at about $44,000. Finally, First Bancorp Inc ME acquired a new stake in Eastman Chemical in the second quarter worth about $46,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

EMN stock opened at $62.32 on Friday. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company has a market cap of $7.13 billion, a P/E ratio of 16.23, a price-to-earnings-growth ratio of 0.78 and a beta of 1.06. The business’s fifty day moving average is $68.51 and its 200-day moving average is $70.73.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The business had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.40 billion. During the same period in the previous year, the firm earned $1.60 earnings per share. The firm’s quarterly revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities research analysts forecast that Eastman Chemical Company will post 6.38 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th were issued a dividend of $0.84 per share. The ex-dividend date was Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 5.4%. Eastman Chemical’s dividend payout ratio (DPR) is 87.50%.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Jefferies Financial Group reissued a “buy” rating and set a $85.00 price objective on shares of Eastman Chemical in a report on Friday, September 25th. Royal Bank Of Canada reduced their target price on shares of Eastman Chemical from $74.00 to $65.00 and set a “sector perform” rating on the stock in a research note on Tuesday, October 13th. Wells Fargo & Company set a $68.00 target price on shares of Eastman Chemical in a research note on Friday. Mizuho lowered their price target on shares of Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating for the company in a research report on Thursday, October 1st. Finally, Wall Street Zen downgraded shares of Eastman Chemical from a “buy” rating to a “hold” rating in a research note on Saturday, September 12th. Six research analysts have rated the stock with a Buy rating and ten have assigned a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $74.64.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.