Atlantic Union Bankshares Corp Sells 1,001 Shares of Eastman Chemical Company $EMN

Atlantic Union Bankshares Corp decreased its position in shares of Eastman Chemical Company (NYSE:EMN) by 39.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 1,556 shares of the basic materials company’s stock after selling 1,001 shares during the quarter. Atlantic Union Bankshares Corp’s holdings in Eastman Chemical were worth $116,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its holdings in Eastman Chemical by 8.5% during the first quarter. Dimensional Fund Advisors LP now owns 2,588,331 shares of the basic materials company’s stock valued at $228,042,000 after purchasing an additional 202,740 shares during the last quarter. Northern Trust Corp boosted its holdings in Eastman Chemical by 1.2% in the 1st quarter. Northern Trust Corp now owns 1,393,932 shares of the basic materials company’s stock worth $122,819,000 after buying an additional 16,532 shares during the period. PNC Financial Services Group Inc. grew its stake in Eastman Chemical by 2.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 962,548 shares of the basic materials company’s stock valued at $84,810,000 after buying an additional 18,460 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Eastman Chemical by 4.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 606,354 shares of the basic materials company’s stock valued at $53,426,000 after acquiring an additional 24,183 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Eastman Chemical by 33.1% during the first quarter. Ameriprise Financial Inc. now owns 575,191 shares of the basic materials company’s stock worth $50,700,000 after acquiring an additional 142,897 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Performance

NYSE EMN opened at $61.25 on Monday. Eastman Chemical Company has a 52-week low of $56.75 and a 52-week high of $107.50. The company has a fifty day moving average of $63.43 and a 200-day moving average of $71.16. The company has a market capitalization of $6.99 billion, a P/E ratio of 8.60, a P/E/G ratio of 6.16 and a beta of 1.31. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.78 and a current ratio of 1.68.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Monday, November 3rd. The basic materials company reported $1.14 earnings per share for the quarter, missing analysts’ consensus estimates of $1.18 by ($0.04). Eastman Chemical had a net margin of 8.96% and a return on equity of 15.24%. The firm had revenue of $2.20 billion for the quarter, compared to analysts’ expectations of $2.28 billion. During the same quarter in the previous year, the business earned $2.26 EPS. The company’s revenue for the quarter was down 10.6% on a year-over-year basis. Eastman Chemical has set its FY 2025 guidance at 5.400-5.65 EPS. As a group, equities research analysts predict that Eastman Chemical Company will post 8.55 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

EMN has been the subject of several recent research reports. The Goldman Sachs Group reduced their price target on Eastman Chemical from $87.00 to $65.00 and set a “neutral” rating for the company in a research report on Thursday, August 7th. KeyCorp set a $79.00 price target on Eastman Chemical and gave the company an “overweight” rating in a research report on Monday, August 4th. Royal Bank Of Canada set a $71.00 price target on shares of Eastman Chemical in a report on Tuesday, October 14th. Citigroup boosted their price objective on shares of Eastman Chemical from $68.00 to $70.00 and gave the company a “buy” rating in a research note on Thursday, October 2nd. Finally, Wells Fargo & Company lowered their target price on shares of Eastman Chemical from $80.00 to $70.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 5th. Eight analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.33.

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.