Vanguard Amends Eastman Chemical Stake to 14.7% as of Dec 29

TL;DR

**Vanguard Group now owns 14.7% of Eastman Chemical, a slight change from prior filings.**

AI Summary

The Vanguard Group, a major investment firm, filed an amended Schedule 13G/A on February 13, 2024, disclosing its ownership in Eastman Chemical Co. As of December 29, 2023, Vanguard beneficially owned 12,056,500 shares of Eastman Chemical's Common Stock, representing 14.7% of the company. This filing indicates a slight decrease in Vanguard's reported ownership from a previous filing, which matters to investors as it shows a significant institutional holder's updated position, potentially influencing market perception and liquidity for Eastman Chemical stock.

Why It Matters

This filing shows Vanguard's updated, substantial ownership in Eastman Chemical, which can impact investor confidence and the stock's perceived stability due to a major institutional investor's commitment.

Risk Assessment

Risk Level: low — This filing is routine for large institutional investors and does not indicate any immediate significant risk to the company or its shareholders.

Analyst Insight

A smart investor would note Vanguard's continued significant, albeit slightly adjusted, stake in Eastman Chemical Co. as a sign of ongoing institutional interest, but would not make investment decisions solely based on this routine disclosure.

Key Numbers

• 12,056,500 — Shares Beneficially Owned (Represents the total number of Eastman Chemical Co. Common Stock shares held by The Vanguard Group as of December 29, 2023.)
• 14.7% — Percentage of Class (Indicates the significant stake The Vanguard Group holds in Eastman Chemical Co., making them a major shareholder.)
• December 29, 2023 — Reporting Date (This is the specific date for which the ownership data is reported, providing a snapshot of Vanguard's holdings at that time.)
• 16 — Amendment Number (Shows this is the sixteenth amendment to Vanguard's Schedule 13G filing for Eastman Chemical Co., indicating ongoing adjustments to their position.)

Key Players & Entities

• The Vanguard Group (company) — reporting person and major institutional investor
• Eastman Chemical Co (company) — subject company whose securities are being reported
• 12,056,500 shares (dollar_amount) — number of shares beneficially owned by Vanguard
• 14.7% (dollar_amount) — percentage of Eastman Chemical's Common Stock owned by Vanguard
• December 29, 2023 (date) — date of the event which required the filing
• February 13, 2024 (date) — date the SC 13G/A amendment was filed

Forward-Looking Statements

• Vanguard will likely maintain a significant, but potentially fluctuating, stake in Eastman Chemical Co. over the next year. (The Vanguard Group) — high confidence, target: December 31, 2024
• Eastman Chemical Co.'s stock price will experience minimal direct impact from this routine filing. (Eastman Chemical Co.) — medium confidence, target: February 29, 2024

FAQ

Filing Documents

• tv0056-eastmanchemicalco.htm (SC 13G/A) — 11KB
• 0001104659-24-020048.txt ( ) — 13KB

(a) - Name of Issuer

Item 1(a) - Name of Issuer: Eastman Chemical Co

(b) - Address of Issuer's Principal Executive Offices

Item 1(b) - Address of Issuer's Principal Executive Offices: 200 South Wilcox Drive Kingsport, TN 37660-5280

(a) - Name of Person Filing

Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930

(b) – Address of Principal Business Office or, if none, residence

Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355

(c) – Citizenship

Item 2(c) – Citizenship: Pennsylvania

(d) - Title of Class of Securities

Item 2(d) - Title of Class of Securities: Common Stock

(e) - CUSIP Number

Item 2(e) - CUSIP Number 277432100

- Type of Filing

Item 3 - Type of Filing: This statement is being filed pursuant to Rule 13d-1. An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E).

- Ownership

Item 4 - Ownership: (a) Amount Beneficially Owned: (b) Percent of Class: (c) Number of shares as to which such person has: (i) sole power to vote or direct to vote: (ii) shared power to vote or direct to vote: (iii) sole power to dispose of or to direct the disposition of: (iv) shared power to dispose or to direct the disposition of: Comments: The responses to questions 5 through 9 and 11 on the cover page(s) are incorporated by reference into this Item 4.

- Ownership of Five Percent or Less of a Class

Item 5 - Ownership of Five Percent or Less of a Class: If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than 5 percent of the class of securities, check the following

- Ownership of More Than Five Percent on Behalf of Another Person

Item 6 - Ownership of More Than Five Percent on Behalf of Another Person: The Vanguard Group, Inc.'s clients, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein. No one other person's interest in the securities reported herein is more than 5%. Item 7 - Identification and Classification of the Subsidiary Which Acquired The Security Being Reported on by the Parent Holding Company: Not applicable

- Identification and Classification of Members of Group

Item 8 - Identification and Classification of Members of Group: Not applicable

- Notice of Dissolution of Group

Item 9 - Notice of Dissolution of Group: Not applicable

- Certification

Item 10 - Certification: By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under 240.14a-11. Signature After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct. Date: February 13, 2024 By /s/ Ashley Grim Name: Ashley Grim Title: Head of Global Fund Administration

View Full Filing

View this SC 13G/A filing on SEC EDGAR