First Citizens Bank & Trust Co. Sells 213,130 Shares of Eastman Chemical Company $EMN

First Citizens Bank & Trust Co. lowered its holdings in shares of Eastman Chemical Company (NYSE:EMN) by 95.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 10,359 shares of the basic materials company’s stock after selling 213,130 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Eastman Chemical were worth $791,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

EMN has been the topic of a number of research reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Morgan Stanley lowered their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Wells Fargo & Company increased their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research note on Monday, May 4th. Citigroup decreased their target price on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $82.00 target price on shares of Eastman Chemical in a report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $80.50.

Eastman Chemical Price Performance

Shares of EMN opened at $68.02 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47. The company has a 50 day moving average price of $71.06 and a 200-day moving average price of $72.13. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The stock has a market capitalization of $7.78 billion, a PE ratio of 19.72, a PEG ratio of 0.89 and a beta of 1.07.

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

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were issued a $0.84 dividend. The ex-dividend date was Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.9%. Eastman Chemical’s dividend payout ratio (DPR) is currently 97.39%.

Eastman Chemical 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.