Eastman Chemical Company $EMN Stock: State of Alaska Department of Revenue Cuts Stake

State of Alaska Department of Revenue decreased its stake in Eastman Chemical Company (NYSE:EMN) by 21.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 59,201 shares of the basic materials company’s stock after selling 16,034 shares during the quarter. State of Alaska Department of Revenue owned approximately 0.05% of Eastman Chemical worth $3,837,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the stock. Steel Grove Capital Advisors LLC grew its position in Eastman Chemical by 17.7% in the third quarter. Steel Grove Capital Advisors LLC now owns 27,921 shares of the basic materials company’s stock valued at $1,810,000 after acquiring an additional 4,195 shares during the period. NorthCrest Asset Manangement LLC acquired a new position in Eastman Chemical during the third quarter worth $307,000. Valley Wealth Managers Inc. lifted its holdings in shares of Eastman Chemical by 3.2% during the third quarter. Valley Wealth Managers Inc. now owns 63,718 shares of the basic materials company’s stock valued at $4,131,000 after acquiring an additional 1,975 shares during the period. Wedmont Private Capital bought a new position in shares of Eastman Chemical during the third quarter valued at $334,000. Finally, Farther Finance Advisors LLC boosted its stake in shares of Eastman Chemical by 196.8% in the 3rd quarter. Farther Finance Advisors LLC now owns 11,116 shares of the basic materials company’s stock valued at $721,000 after purchasing an additional 7,371 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Down 2.4%

EMN stock opened at $62.32 on Friday. The business has a fifty day moving average price of $68.51 and a 200 day moving average price of $70.73. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The stock has a market capitalization of $7.13 billion, a price-to-earnings ratio of 16.23, a P/E/G ratio of 0.78 and a beta of 1.06.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%. The business’s revenue was up 9.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Analysts expect that Eastman Chemical Company will post 6.38 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th were given a dividend of $0.84 per share. The ex-dividend date was Tuesday, September 15th. This represents a $3.36 annualized dividend and a yield of 5.4%. Eastman Chemical’s dividend payout ratio is 87.50%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their target price 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. Citigroup dropped their target price on shares of Eastman Chemical from $81.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, September 30th. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and set a $74.00 price target on shares of Eastman Chemical in a report on Monday, August 3rd. Mizuho reduced their price target on shares of Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Finally, 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, July 16th. Six research analysts have rated the stock with a Buy rating and ten have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $74.64.

About Eastman Chemical

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.