Fifth Third Bancorp Boosts Stock Position in Eastman Chemical Company $EMN

Fifth Third Bancorp increased its holdings in Eastman Chemical Company (NYSE:EMN) by 224.8% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 78,317 shares of the basic materials company’s stock after purchasing an additional 54,204 shares during the period. Fifth Third Bancorp owned approximately 0.07% of Eastman Chemical worth $5,977,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of EMN. Brighton Jones LLC bought a new stake in shares of Eastman Chemical in the 4th quarter worth about $202,000. Integrated Wealth Concepts LLC grew its position in Eastman Chemical by 185.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock worth $589,000 after acquiring an additional 4,345 shares in the last quarter. Millennium Management LLC increased its stake in Eastman Chemical by 69.2% during the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock worth $17,098,000 after acquiring an additional 79,376 shares during the last quarter. NewEdge Advisors LLC increased its stake in Eastman Chemical by 2.6% during the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 183 shares during the last quarter. Finally, United Services Automobile Association purchased a new stake in Eastman Chemical during the first quarter valued at approximately $252,000. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $69.27 on Friday. The company has a 50 day moving average price of $71.58 and a 200-day moving average price of $71.98. 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 fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company has a market capitalization of $7.92 billion, a PE ratio of 20.08, a P/E/G ratio of 0.87 and a beta of 1.07.

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

Eastman Chemical Dividend Announcement

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

Analysts Set New Price Targets

Several research firms have recently issued reports on EMN. Citigroup dropped their target price on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. JPMorgan Chase & Co. increased their price target on Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Morgan Stanley lowered their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday. Finally, Royal Bank Of Canada boosted their price objective on shares of Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and an average price target of $80.50.

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.