Bank of New York Mellon Corp Sells 10,240 Shares of Eastman Chemical Company $EMN

Bank of New York Mellon Corp trimmed its position in shares of Eastman Chemical Company (NYSE:EMN) by 0.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,218,050 shares of the basic materials company’s stock after selling 10,240 shares during the quarter. Bank of New York Mellon Corp owned 1.07% of Eastman Chemical worth $92,962,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also made changes to their positions in the company. HighTower Advisors LLC lifted its holdings in shares of Eastman Chemical by 3,448.7% in the 4th quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after acquiring an additional 1,648,054 shares during the last quarter. Norges Bank bought a new position in Eastman Chemical during the 4th quarter valued at about $95,621,000. State Street Corp raised its position in Eastman Chemical by 24.3% in the 3rd quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock worth $363,314,000 after purchasing an additional 1,112,391 shares during the period. Allspring Global Investments Holdings LLC lifted its stake 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 worth $119,672,000 after purchasing an additional 916,023 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its stake in Eastman Chemical by 101.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,425,806 shares of the basic materials company’s stock worth $91,009,000 after purchasing an additional 718,502 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on EMN shares. The Goldman Sachs Group restated a “neutral” rating and set a $75.00 target price on shares of Eastman Chemical in a research report on Thursday, July 16th. Morgan Stanley decreased their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research note on Thursday, July 2nd. Mizuho set a $85.00 price objective on Eastman Chemical in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Finally, JPMorgan Chase & Co. increased their target price on Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

Eastman Chemical Stock Performance

Shares of Eastman Chemical stock opened at $69.00 on Wednesday. The company has a current ratio of 1.47, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock’s fifty day moving average price is $71.25 and its 200-day moving average price is $72.07. The firm has a market cap of $7.89 billion, a P/E ratio of 20.00, a P/E/G ratio of 0.88 and a beta of 1.07. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $83.47.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping 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 company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. The firm’s revenue for the quarter 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. On average, equities research analysts expect that Eastman Chemical Company will post 6.3 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical’s dividend payout ratio is presently 97.39%.

Eastman Chemical Company 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.