Intact Investment Management Inc. Cuts Stock Holdings in Eastman Chemical Company $EMN

Intact Investment Management Inc. reduced its position in shares of Eastman Chemical Company (NYSE:EMN) by 12.2% in the 4th quarter, HoldingsChannel reports. The firm owned 70,800 shares of the basic materials company’s stock after selling 9,800 shares during the period. Intact Investment Management Inc.’s holdings in Eastman Chemical were worth $4,519,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in EMN. State Street Corp raised its holdings in Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock worth $363,314,000 after purchasing an additional 1,112,391 shares in the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Eastman Chemical by 97.0% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company’s stock worth $119,672,000 after purchasing an additional 916,023 shares in the last quarter. PFA Pension Forsikringsaktieselskab purchased a new position in Eastman Chemical during the fourth quarter worth about $39,827,000. DAVENPORT & Co LLC purchased a new position in Eastman Chemical during the fourth quarter worth about $39,545,000. Finally, Arrowstreet Capital Limited Partnership raised its holdings in Eastman Chemical by 576.0% during the third quarter. Arrowstreet Capital Limited Partnership now owns 707,304 shares of the basic materials company’s stock worth $44,596,000 after purchasing an additional 602,677 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 1.0%

Shares of Eastman Chemical stock opened at $76.77 on Tuesday. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $84.18. The company has a current ratio of 1.37, a quick ratio of 0.63 and a debt-to-equity ratio of 0.70. The stock has a market cap of $8.76 billion, a PE ratio of 22.25, a price-to-earnings-growth ratio of 1.05 and a beta of 1.04. The company has a 50-day moving average of $72.58 and a two-hundred day moving average of $68.11.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.94%. The business had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.17 billion. During the same period last year, the company posted $1.91 EPS. The company’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. On average, research analysts anticipate that Eastman Chemical Company will post 5.85 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 8th. Stockholders of record on Friday, March 13th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Friday, March 13th. Eastman Chemical’s dividend payout ratio (DPR) is 97.39%.

Analysts Set New Price Targets

A number of brokerages have issued reports on EMN. Deutsche Bank Aktiengesellschaft increased their target price on shares of Eastman Chemical from $64.00 to $72.00 and gave the company a “hold” rating in a report on Monday, February 2nd. Royal Bank Of Canada reaffirmed a “sector perform” rating and issued a $79.00 target price on shares of Eastman Chemical in a report on Wednesday, February 4th. Citigroup increased their target price on shares of Eastman Chemical from $83.00 to $88.00 and gave the company a “buy” rating in a report on Monday. UBS Group increased their target price on shares of Eastman Chemical from $80.00 to $88.00 and gave the company a “buy” rating in a report on Thursday, April 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday. Six analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $78.82.

Eastman Chemical Company Profile

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.