Eastman Chemical Company $EMN Shares Sold by Geode Capital Management LLC

Geode Capital Management LLC lessened its stake in Eastman Chemical Company (NYSE:EMN) by 35.8% during the fourth quarter, HoldingsChannel.com reports. The firm owned 1,984,639 shares of the basic materials company’s stock after selling 1,104,577 shares during the period. Geode Capital Management LLC’s holdings in Eastman Chemical were worth $126,723,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in EMN. Steel Grove Capital Advisors LLC bought a new position in Eastman Chemical in the 4th quarter worth about $222,000. Legal & General Group Plc raised its holdings in shares of Eastman Chemical by 3.9% during the fourth quarter. Legal & General Group Plc now owns 1,169,318 shares of the basic materials company’s stock valued at $74,638,000 after buying an additional 43,429 shares during the last quarter. New Age Alpha Advisors LLC bought a new stake in shares of Eastman Chemical during the fourth quarter valued at approximately $1,030,000. Systematic Financial Management LP raised its holdings in shares of Eastman Chemical by 12.5% during the fourth quarter. Systematic Financial Management LP now owns 37,585 shares of the basic materials company’s stock valued at $2,399,000 after buying an additional 4,165 shares during the last quarter. Finally, Prospera Financial Services Inc raised its holdings in shares of Eastman Chemical by 13.0% during the fourth quarter. Prospera Financial Services Inc now owns 31,663 shares of the basic materials company’s stock valued at $2,021,000 after buying an additional 3,648 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Trading Down 3.2%

NYSE EMN opened at $72.43 on Friday. The firm’s 50 day moving average price is $73.55 and its two-hundred day moving average price is $70.18. The stock has a market cap of $8.28 billion, a price-to-earnings ratio of 20.99, a PEG ratio of 0.95 and a beta of 1.04. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47.

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

Eastman Chemical Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th will be given a dividend of $0.84 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.6%. Eastman Chemical’s payout ratio is currently 97.39%.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on EMN shares. Royal Bank Of Canada raised their price objective on shares of Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a research note on Tuesday, May 5th. Citigroup raised their price objective on shares of Eastman Chemical from $83.00 to $88.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Zacks Research upgraded shares of Eastman Chemical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. JPMorgan Chase & Co. raised their price objective on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, Evercore set a $75.00 price objective on shares of Eastman Chemical in a research note on Wednesday, February 18th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and a consensus target price of $80.25.

Eastman Chemical Profile

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.