PNC Financial Services Group Inc. Cuts Holdings in Eastman Chemical Company $EMN

PNC Financial Services Group Inc. decreased its stake in shares of Eastman Chemical Company (NYSE:EMN) by 84.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 133,326 shares of the basic materials company’s stock after selling 724,853 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Eastman Chemical were worth $8,510,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of EMN. Brighton Jones LLC purchased a new stake in Eastman Chemical during the 4th quarter worth about $202,000. Integrated Wealth Concepts LLC increased its holdings in Eastman Chemical by 185.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock worth $589,000 after purchasing an additional 4,345 shares during the period. Millennium Management LLC increased its holdings in Eastman Chemical by 69.2% during the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock worth $17,098,000 after purchasing an additional 79,376 shares during the period. NewEdge Advisors LLC increased its holdings in Eastman Chemical by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after purchasing an additional 183 shares during the period. Finally, United Services Automobile Association purchased a new stake in Eastman Chemical during the 1st quarter worth about $252,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.0%

EMN opened at $74.13 on Monday. The business has a 50 day moving average price of $72.45 and a two-hundred day moving average price of $69.28. The company has a quick ratio of 0.71, a current ratio of 1.47 and a debt-to-equity ratio of 0.73. The company has a market cap of $8.48 billion, a PE ratio of 21.49, a P/E/G ratio of 0.94 and a beta of 1.04. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $83.47.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The firm’s revenue was down 4.9% compared to the same quarter last year. During the same period in the prior year, the business earned $1.91 EPS. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. As a group, research analysts anticipate that Eastman Chemical Company will post 6.36 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th will be paid a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.36 annualized dividend and a yield of 4.5%. Eastman Chemical’s dividend payout ratio is currently 97.39%.

Analyst Ratings Changes

Several equities research analysts have weighed in on EMN shares. UBS Group upped their price target on Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and set a $82.00 price objective on shares of Eastman Chemical in a research report on Tuesday, May 5th. JPMorgan Chase & Co. upped their price objective on Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Royal Bank Of Canada upped their price objective on Eastman Chemical from $79.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Finally, Evercore set a $75.00 price objective on Eastman Chemical in a research report on Wednesday, February 18th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $80.25.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company’s main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.