Arrowstreet Capital Limited Partnership Sells 324,991 Shares of Eastman Chemical Company $EMN

Arrowstreet Capital Limited Partnership cut its stake in Eastman Chemical Company (NYSE:EMN) by 22.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,100,815 shares of the basic materials company’s stock after selling 324,991 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.96% of Eastman Chemical worth $84,014,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. State Street Corp boosted its stake in shares of 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 valued at $363,314,000 after purchasing an additional 1,112,391 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock valued at $376,747,000 after buying an additional 338,914 shares in the last quarter. Franklin Resources Inc. raised its holdings in shares of Eastman Chemical by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock valued at $237,637,000 after buying an additional 20,634 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in shares of Eastman Chemical by 39.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after buying an additional 732,693 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in Eastman Chemical by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock worth $184,909,000 after buying an additional 143,323 shares in the last quarter. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on the stock. Mizuho set a $85.00 price objective on shares of Eastman Chemical in a report on Friday, May 1st. Royal Bank Of Canada upped their target price on shares of Eastman Chemical from $79.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Morgan Stanley decreased their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Wells Fargo & Company raised their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $80.50.

Eastman Chemical Price Performance

Shares of EMN stock opened at $68.16 on Monday. The company has a quick ratio of 0.71, a current ratio of 1.47 and a debt-to-equity ratio of 0.73. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The firm has a fifty day moving average of $71.00 and a 200-day moving average of $72.16. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 19.76, a price-to-earnings-growth ratio of 0.88 and a beta of 1.07.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping the consensus estimate of $1.07 by $0.02. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The firm had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same period in the previous year, the company posted $1.91 earnings per share. The company’s revenue for the quarter was down 4.9% on a year-over-year basis. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. On average, equities research analysts forecast that Eastman Chemical Company will post 6.3 earnings per share for the current year.

Eastman Chemical Dividend Announcement

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

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.