Sterling Capital Management LLC Sells 28,020 Shares of Eastman Chemical Company $EMN

Sterling Capital Management LLC cut its stake in Eastman Chemical Company (NYSE:EMN) by 89.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 3,297 shares of the basic materials company’s stock after selling 28,020 shares during the period. Sterling Capital Management LLC’s holdings in Eastman Chemical were worth $214,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. WINTON GROUP Ltd bought a new stake in shares of Eastman Chemical in the 2nd quarter worth about $1,453,000. Man Group plc acquired a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $5,471,000. State Street Corp lifted its position in shares of Eastman Chemical by 0.7% during the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock worth $282,741,000 after purchasing an additional 29,010 shares during the last quarter. Bank of America Corp DE lifted its position in shares of Eastman Chemical by 10.1% during the second quarter. Bank of America Corp DE now owns 2,469,976 shares of the basic materials company’s stock worth $165,439,000 after purchasing an additional 225,905 shares during the last quarter. Finally, Van ECK Associates Corp acquired a new position in Eastman Chemical in the second quarter worth about $2,095,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Down 2.2%

EMN stock opened at $66.44 on Friday. The firm has a market cap of $7.60 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 0.86 and a beta of 1.06. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47. The firm has a fifty day moving average price of $66.85 and a two-hundred day moving average price of $70.92. 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 (NYSE:EMN) last posted its quarterly earnings results on Thursday, October 29th. The basic materials company reported $1.84 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.92 by ($0.08). Eastman Chemical had a return on equity of 10.69% and a net margin of 7.15%. The business had revenue of $2.38 billion during the quarter, compared to the consensus estimate of $2.41 billion. During the same quarter in the previous year, the business posted $1.14 earnings per share. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. Research analysts predict that Eastman Chemical Company will post 6.05 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th were paid 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 5.1%. Eastman Chemical’s dividend payout ratio is 87.50%.

Eastman Chemical News Summary

Here are the key news stories impacting Eastman Chemical this week:

• Positive Sentiment: The U.S. Department of Energy reinstated a $375 million award to Eastman, improving the outlook for the company’s planned projects and strengthening its potential funding position. Eastman Chemical says DoE reinstates $375M award
• Positive Sentiment: Third-quarter revenue increased approximately 8% year over year to $2.38 billion, supported by higher selling prices and a 1% improvement in sales volume and mix. Advanced Materials, Additives & Functional Products, and Chemical Intermediates all recorded revenue growth. Eastman Q3 revenue rises 8%
• Positive Sentiment: Management maintained its full-year adjusted EPS outlook of $6.00 to $6.20 and expects $125 million to $150 million of 2026 cost savings, net of inflation. Eastman also generated substantial operating cash flow and returned $96 million to shareholders through dividends. Eastman announces third-quarter 2026 financial results
• Neutral Sentiment: Eastman reported GAAP diluted EPS of $2.19, up from $0.60 a year earlier, while adjusted EPS was reported at $1.84. Investors may weigh the large year-over-year improvement against the difference between GAAP and adjusted results.
• Negative Sentiment: Adjusted third-quarter EPS of $1.84 missed the $1.92 consensus estimate, while revenue of roughly $2.38 billion came in below the $2.41 billion estimate. The earnings shortfall likely outweighed the year-over-year improvement in results. Eastman misses Q3 earnings and revenue estimates
• Negative Sentiment: Fibers revenue was flat as higher volume and mix were offset by lower selling prices, highlighting continued pricing pressure in part of the portfolio. Eastman Q3 earnings miss despite higher pricing
• Negative Sentiment: JPMorgan recently downgraded EMN from Overweight to Neutral, adding to concerns about near-term upside after the earnings miss. JPMorgan downgrades Eastman Chemical

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. KeyCorp initiated coverage on Eastman Chemical in a report on Thursday, September 10th. They issued a “sector weight” rating for the company. Zacks Research cut Eastman Chemical from a “hold” rating to a “strong sell” rating in a research note on Monday, October 19th. JPMorgan Chase & Co. downgraded Eastman Chemical from an “overweight” rating to a “neutral” rating and reduced their target price for the stock from $82.00 to $66.00 in a report on Friday, October 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Finally, Royal Bank Of Canada decreased their target price on Eastman Chemical from $74.00 to $65.00 and set a “sector perform” rating for the company in a research report on Tuesday, October 13th. Six research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $74.64.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials and chemicals company that develops and manufactures products used in transportation, building and construction, consumer goods, medical products, packaging, and other industrial applications. Its portfolio includes specialty plastics, coatings, adhesives, fibers, additives, intermediates, and other performance materials.

The company’s products are designed to provide properties such as durability, chemical resistance, lightweight performance, clarity, and enhanced functionality.