PNC Financial Services Group Inc. Sells 11,817 Shares of Eastman Chemical Company $EMN

PNC Financial Services Group Inc. decreased its position in Eastman Chemical Company (NYSE:EMN) by 8.9% in the first quarter, Holdings Channel.com reports. The firm owned 121,509 shares of the basic materials company’s stock after selling 11,817 shares during the quarter. PNC Financial Services Group Inc.’s holdings in Eastman Chemical were worth $9,274,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of EMN. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical in the 2nd quarter worth about $25,000. Altshuler Shaham Ltd bought a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $25,000. Brown Lisle Cummings Inc. lifted its holdings in shares of Eastman Chemical by 70.0% during the fourth quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $27,000. Finally, Los Angeles Capital Management LLC bought a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $27,000. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Up 0.4%

Shares of NYSE:EMN opened at $68.16 on Friday. The company has a market cap of $7.79 billion, a P/E 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. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47. The stock’s fifty day moving average price is $71.00 and its 200-day moving average price is $72.11.

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

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend 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

A number of research analysts recently weighed in on the company. Morgan Stanley reduced their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. The Goldman Sachs Group reissued a “neutral” rating and issued a $75.00 target price on shares of Eastman Chemical in a research note on Thursday, July 16th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $82.00 price target on shares of Eastman Chemical in a report on Tuesday, May 5th. UBS Group upped their price target on shares of Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Finally, Citigroup cut their price objective on shares of Eastman Chemical from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus 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.