Bank of New York Mellon Corp Has $78.40 Million Position in Eastman Chemical Company $EMN

Bank of New York Mellon Corp raised its position in Eastman Chemical Company (NYSE:EMN) by 3.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,228,290 shares of the basic materials company’s stock after acquiring an additional 42,432 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eastman Chemical were worth $78,402,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Generali Asset Management SPA SGR lifted its stake in shares of Eastman Chemical by 9.6% during the 4th quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company’s stock worth $109,000 after buying an additional 149 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Eastman Chemical by 0.7% during the 4th quarter. QRG Capital Management Inc. now owns 23,069 shares of the basic materials company’s stock worth $1,472,000 after buying an additional 158 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its stake in shares of Eastman Chemical by 0.8% during the 4th quarter. Oppenheimer Asset Management Inc. now owns 20,145 shares of the basic materials company’s stock worth $1,286,000 after buying an additional 162 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock worth $27,000 after buying an additional 175 shares during the last quarter. Finally, Advisors Management Group Inc. ADV lifted its stake in shares of Eastman Chemical by 1.5% during the 3rd quarter. Advisors Management Group Inc. ADV now owns 12,327 shares of the basic materials company’s stock worth $777,000 after buying an additional 181 shares during the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Trading Up 1.7%

Shares of Eastman Chemical stock opened at $72.86 on Wednesday. The firm has a market capitalization of $8.33 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. 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 firm’s 50 day moving average is $73.57 and its 200 day moving average is $70.49. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47.

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

Eastman Chemical Dividend Announcement

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

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Zacks Research upgraded shares of Eastman Chemical from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Wells Fargo & Company raised their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. UBS Group raised their price target on shares of Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Finally, Citigroup raised their price target on shares of Eastman Chemical from $83.00 to $88.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $80.25.

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.