LSV Asset Management Reduces Stock Position in Eastman Chemical Company $EMN

LSV Asset Management cut its stake in Eastman Chemical Company (NYSE:EMN) by 2.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 1,231,029 shares of the basic materials company’s stock after selling 34,600 shares during the quarter. LSV Asset Management’s holdings in Eastman Chemical were worth $78,577,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in EMN. HighTower Advisors LLC increased its holdings in Eastman Chemical by 3,448.7% in the fourth quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock valued at $108,246,000 after buying an additional 1,648,054 shares in the last quarter. State Street Corp increased its holdings in Eastman Chemical by 24.3% in the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock valued at $363,314,000 after buying an additional 1,112,391 shares in the last quarter. Allspring Global Investments Holdings LLC increased its holdings in Eastman Chemical by 97.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company’s stock valued at $119,672,000 after buying an additional 916,023 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Eastman Chemical in the fourth quarter valued at about $39,827,000. Finally, DAVENPORT & Co LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth approximately $39,545,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price objective on shares of Eastman Chemical from $79.00 to $82.00 and gave the stock 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 stock a “buy” rating in a research note on Monday, May 4th. UBS Group raised their price objective on shares of Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Wells Fargo & Company raised their price objective on shares of Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Finally, KeyCorp reissued an “overweight” rating on shares of Eastman Chemical in a research note on Monday, February 2nd. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $80.25.

Eastman Chemical Stock Up 1.3%

EMN stock opened at $74.13 on Friday. The stock has a market capitalization of $8.48 billion, a P/E ratio of 21.49, a PEG ratio of 0.94 and a beta of 1.04. 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 Company has a one year low of $56.11 and a one year high of $83.47. The company has a 50 day moving average price of $72.45 and a two-hundred day moving average price of $69.20.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. The firm had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. Eastman Chemical’s revenue for the quarter was down 4.9% on a year-over-year basis. During the same period in the previous year, the company earned $1.91 EPS. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. As a group, sell-side analysts expect 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 paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, June 15th. Eastman Chemical’s payout ratio is presently 97.39%.

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.