Bank of New York Mellon Corp Cuts Position in Eastman Chemical Company $EMN

Bank of New York Mellon Corp trimmed its stake in Eastman Chemical Company (NYSE:EMN) by 0.8% in the 1st quarter, HoldingsChannel reports. The fund 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’s holdings in Eastman Chemical were worth $92,962,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in EMN. Lido Advisors LLC boosted its position in Eastman Chemical by 0.6% during the fourth quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company’s stock valued at $1,297,000 after purchasing an additional 125 shares in the last quarter. Generali Asset Management SPA SGR raised its holdings in Eastman Chemical by 9.6% in the fourth quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company’s stock worth $109,000 after purchasing an additional 149 shares in the last quarter. UMB Bank n.a. lifted its position in shares of Eastman Chemical by 6.2% during the fourth quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company’s stock valued at $164,000 after buying an additional 150 shares during the last quarter. Jacobi Capital Management LLC boosted its holdings in shares of Eastman Chemical by 3.2% in the 4th quarter. Jacobi Capital Management LLC now owns 4,982 shares of the basic materials company’s stock valued at $318,000 after buying an additional 153 shares in the last quarter. Finally, QRG Capital Management Inc. boosted its holdings in shares of Eastman Chemical by 0.7% in the 4th quarter. QRG Capital Management Inc. now owns 23,069 shares of the basic materials company’s stock valued at $1,472,000 after buying an additional 158 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Trading Up 1.4%

NYSE EMN opened at $69.00 on Wednesday. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The company has a fifty day simple moving average of $71.25 and a two-hundred day simple moving average of $72.07. 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 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 (NYSE:EMN) last announced its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, beating 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 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 earned $1.91 earnings per share. The business’s quarterly revenue 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, analysts forecast that Eastman Chemical Company will post 6.3 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were paid 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 (DPR) is presently 97.39%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on EMN shares. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Eastman Chemical in a research report on Thursday, July 16th. JPMorgan Chase & Co. raised their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Morgan Stanley cut their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Royal Bank Of Canada upped their price target on Eastman Chemical from $79.00 to $82.00 and gave the stock a “sector perform” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a report on Monday, May 18th. 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, the company presently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

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.