PNC Financial Services Group Inc. Cuts Stock Position in Eastman Chemical Company $EMN

PNC Financial Services Group Inc. cut its position in shares of Eastman Chemical Company (NYSE:EMN) by 8.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 121,509 shares of the basic materials company’s stock after selling 11,817 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.11% of Eastman Chemical worth $9,274,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Lido Advisors LLC grew 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 acquiring an additional 125 shares during the last quarter. Generali Asset Management SPA SGR lifted its holdings in shares of Eastman Chemical by 9.6% in the 4th quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company’s stock worth $109,000 after acquiring an additional 149 shares during the last quarter. UMB Bank n.a. lifted its holdings in shares of Eastman Chemical by 6.2% in the 4th quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company’s stock worth $164,000 after acquiring an additional 150 shares during the last quarter. Jacobi Capital Management LLC boosted its stake 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 purchasing an additional 153 shares in the last quarter. Finally, QRG Capital Management Inc. grew its holdings 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 valued at $1,472,000 after purchasing an additional 158 shares during the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.4%

NYSE EMN opened at $68.16 on Friday. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47. The stock has a market capitalization of $7.79 billion, a PE ratio of 19.76, a PEG ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The business’s 50-day moving average is $71.00 and its 200 day moving average is $72.11.

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

Eastman Chemical Dividend Announcement

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

Analyst Ratings Changes

Several analysts have issued reports on EMN shares. Royal Bank Of Canada upped their price target 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. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $82.00 target price on shares of Eastman Chemical in a report on Tuesday, May 5th. JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a research note on Monday, May 4th. Mizuho set a $85.00 price objective on Eastman Chemical in a research report on Friday, May 1st. Finally, Citigroup dropped their price objective on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price 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.