JPMorgan Amends Eastman Chemical Stake (SC 13G/A)

TL;DR

**JPMorgan Chase & Co. just updated its passive stake in Eastman Chemical, signaling a change in institutional holdings.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 4, 2024, indicating their ownership of Eastman Chemical Company's common stock as of December 29, 2023. This filing is an amendment (Amendment No. 03), suggesting a change in their previously reported holdings. While the exact percentage or number of shares isn't detailed in the provided text, the amendment signals that JPMorgan Chase & Co. has adjusted its passive investment in Eastman Chemical, which could influence investor sentiment or signal a shift in institutional interest for those owning or considering buying the stock.

Why It Matters

This filing shows that a major financial institution, JPMorgan Chase & Co., has updated its position in Eastman Chemical Company, which can be a signal to other investors about institutional confidence in the stock.

Risk Assessment

Risk Level: low — This is a routine amendment filing by a large institutional investor, indicating a change in passive holdings, not an aggressive activist move.

Analyst Insight

Investors should note that a major institution like JPMorgan Chase & Co. is adjusting its passive stake in Eastman Chemical. While the specific change isn't detailed here, it warrants further investigation into the full filing to understand if the stake increased or decreased, which could inform their own investment decisions.

Key Numbers

• 03 — Amendment Number (Indicates this is the third amendment to JPMorgan's Schedule 13G filing for Eastman Chemical.)
• 277432100 — CUSIP Number (Unique identifier for Eastman Chemical Company's Common Stock.)

Key Players & Entities

• JPMorgan Chase & Co. (company) — the entity filing the SC 13G/A amendment
• EASTMAN CHEMICAL COMPANY (company) — the issuer whose common stock is being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• January 4, 2024 (date) — the filing date of the SC 13G/A
• Amendment No. 03 (number) — the specific amendment number for this filing

FAQ

From the Filing

0000019617-24-000011.txt : 20240104 0000019617-24-000011.hdr.sgml : 20240104 20240104081103 ACCESSION NUMBER: 0000019617-24-000011 CONFORMED SUBMISSION TYPE: SC 13G/A CONFIRMING COPY: PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240104 DATE AS OF CHANGE: 20240104 SUBJECT COMPANY: COMPANY DATA: COMPANY CONFORMED NAME: EASTMAN CHEMICAL CO CENTRAL INDEX KEY: 0000915389 STANDARD INDUSTRIAL CLASSIFICATION: PLASTICS, MATERIALS, SYNTH RESINS & NONVULCAN ELASTOMERS [2821] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 621539359 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A SEC ACT: 1934 Act SEC FILE NUMBER: 005-48137 BUSINESS ADDRESS: STREET 1: PO BOX 511 STREET 2: 200 SOUTH WILCOX DRIVE CITY: KINGSPORT STATE: TN ZIP: 37660 BUSINESS PHONE: 4232292000 MAIL ADDRESS: STREET 1: P O BOX 511 B-54D CITY: KINGSPORT STATE: TN ZIP: 37662 FILED BY: COMPANY DATA: COMPANY CONFORMED NAME: JPMORGAN CHASE & CO CENTRAL INDEX KEY: 0000019617 STANDARD INDUSTRIAL CLASSIFICATION: NATIONAL COMMERCIAL BANKS [6021] ORGANIZATION NAME: 02 Finance IRS NUMBER: 132624428 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 BUSINESS PHONE: 2122706000 MAIL ADDRESS: STREET 1: 383 MADISON AVENUE CITY: NEW YORK STATE: NY ZIP: 10017 FORMER COMPANY: FORMER CONFORMED NAME: J P MORGAN CHASE & CO DATE OF NAME CHANGE: 20010102 FORMER COMPANY: FORMER CONFORMED NAME: CHASE MANHATTAN CORP /DE/ DATE OF NAME CHANGE: 19960402 FORMER COMPANY: FORMER CONFORMED NAME: CHEMICAL BANKING CORP DATE OF NAME CHANGE: 19920703 SC 13G/A 1 EASTMAN_CHEMICAL_COMPANY.h.htm FILING EASTMAN CHEMICAL COMPANY Schedule 13G   UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549   SCHEDULE 13G     Under the Securities Exchange Act of 1934 (Amendment No. 03 )*   EASTMAN CHEMICAL COMPANY   (Name of Issuer)   Common Stock, par value $0.01 per share (Title of Class of Securities)   277432100 (CUSIP Number)   December 29, 2023 (Date of Event Which Requires Filing of this Statement)   Check the appropriate box to designate the rule pursuant to which this Schedule is filed:        x  Rule 13d-1(b)        o  Rule 13d-1(c)        o  Rule 13d-1(d)   * The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.   The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).           CUSIP No.  277432100                           1   NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY)   JPMORGAN CHASE & CO. 13-2624428       2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)   (a)   o   (b)   o       3   SEC USE ONLY               4   CITIZENSHIP OR PLACE OF ORGANIZATION       Delaware         NUMBER OF SHARES BENEFICIALLY  OWNED BY EACH REPORTING PERSON WITH:  5   SOLE VOTING POWER       4,801,386       6   SHARED VOTING POWER       49,308       7   SOLE DISPOSITIVE POWER