Deprince Race & Zollo Inc. Sells 63,004 Shares of Eastman Chemical Company $EMN

Deprince Race & Zollo Inc. lowered its position in Eastman Chemical Company (NYSE:EMN) by 11.3% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 496,124 shares of the basic materials company’s stock after selling 63,004 shares during the period. Deprince Race & Zollo Inc. owned 0.43% of Eastman Chemical worth $37,864,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in EMN. Rexford Capital Inc. increased its stake in shares of Eastman Chemical by 7.9% during the 1st quarter. Rexford Capital Inc. now owns 4,886 shares of the basic materials company’s stock worth $373,000 after purchasing an additional 358 shares during the last quarter. Severin Investments LLC boosted its holdings in Eastman Chemical by 29.6% in the first quarter. Severin Investments LLC now owns 4,447 shares of the basic materials company’s stock worth $339,000 after purchasing an additional 1,016 shares in the last quarter. MQS Management LLC acquired a new position in Eastman Chemical during the first quarter worth $202,000. Kohmann Bosshard Financial Services LLC bought a new position in Eastman Chemical during the first quarter valued at about $55,000. Finally, 1492 Capital Management LLC acquired a new stake in shares of Eastman Chemical in the first quarter worth about $1,206,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on EMN. Morgan Stanley upped their price target on Eastman Chemical from $73.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 5th. Wells Fargo & Company boosted their target price on Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a report on Monday, May 4th. Zacks Research raised Eastman Chemical from a “strong sell” rating to a “hold” rating in a research report on Wednesday, March 4th. Mizuho set a $85.00 price target on Eastman Chemical in a report on Friday, May 1st. Finally, Royal Bank Of Canada boosted 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. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average target price of $80.00.

Eastman Chemical Price Performance

NYSE EMN opened at $67.23 on Thursday. The stock has a 50-day simple moving average of $72.65 and a 200 day simple moving average of $71.63. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The stock has a market capitalization of $7.69 billion, a PE ratio of 19.49, a P/E/G ratio of 0.85 and a beta of 1.07. 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 issued its quarterly 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. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the business posted $1.91 EPS. 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. Research analysts anticipate that Eastman Chemical Company will post 6.36 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th will be issued a $0.84 dividend. 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 5.0%. Eastman Chemical’s dividend payout ratio is 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.