Kovitz Investment Group Partners LLC Decreases Stake in Eastman Chemical Company $EMN

Kovitz Investment Group Partners LLC lowered its position in shares of Eastman Chemical Company (NYSE:EMN) by 3.0% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 7,312 shares of the basic materials company’s stock after selling 227 shares during the quarter. Kovitz Investment Group Partners LLC’s holdings in Eastman Chemical were worth $644,000 as of its most recent filing with the SEC.

A number of other institutional investors have also modified their holdings of the company. Holderness Investments Co. grew its holdings in shares of Eastman Chemical by 1.2% during the 1st quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company’s stock worth $922,000 after purchasing an additional 125 shares during the period. Y.D. More Investments Ltd grew its holdings in shares of Eastman Chemical by 15.0% during the 1st quarter. Y.D. More Investments Ltd now owns 1,044 shares of the basic materials company’s stock worth $92,000 after purchasing an additional 136 shares during the period. Beverly Hills Private Wealth LLC boosted its holdings in Eastman Chemical by 4.5% in the 1st quarter. Beverly Hills Private Wealth LLC now owns 3,304 shares of the basic materials company’s stock worth $291,000 after acquiring an additional 143 shares during the period. Prudent Man Advisors LLC boosted its holdings in Eastman Chemical by 2.2% in the 1st quarter. Prudent Man Advisors LLC now owns 6,651 shares of the basic materials company’s stock worth $586,000 after acquiring an additional 144 shares during the period. Finally, Burney Co. boosted its holdings in Eastman Chemical by 0.9% in the 1st quarter. Burney Co. now owns 18,083 shares of the basic materials company’s stock worth $1,593,000 after acquiring an additional 154 shares during the period. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

Shares of EMN opened at $66.6410 on Thursday. The business’s 50 day moving average is $73.43 and its two-hundred day moving average is $81.93. Eastman Chemical Company has a 52-week low of $56.78 and a 52-week high of $114.50. The firm has a market cap of $7.65 billion, a price-to-earnings ratio of 9.36, a PEG ratio of 6.37 and a beta of 1.21. The company has a quick ratio of 0.78, a current ratio of 1.68 and a debt-to-equity ratio of 0.81.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.72 by ($0.12). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The business had revenue of $2.29 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same period in the previous year, the company earned $2.15 earnings per share. The business’s revenue for the quarter was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Investors of record on Monday, September 15th will be given a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 5.0%. The ex-dividend date of this dividend is Monday, September 15th. Eastman Chemical’s dividend payout ratio is currently 46.63%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on EMN shares. Barclays decreased their price target on Eastman Chemical from $108.00 to $85.00 and set an “equal weight” rating for the company in a report on Tuesday, April 29th. Wall Street Zen cut Eastman Chemical from a “buy” rating to a “hold” rating in a report on Monday, April 28th. KeyCorp set a $79.00 price target on Eastman Chemical and gave the stock an “overweight” rating in a report on Monday, August 4th. Morgan Stanley decreased their price target on Eastman Chemical from $125.00 to $115.00 and set an “overweight” rating for the company in a report on Monday, April 28th. Finally, The Goldman Sachs Group decreased their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a report on Thursday, August 7th. Eight equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $87.00.

About Eastman Chemical

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.