BlackRock Amends Eastman Chemical Stake, Signals Portfolio Shift

TL;DR

**BlackRock updated its Eastman Chemical holdings, pay attention to what big money is doing!**

AI Summary

BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, indicating a change in its ownership of Eastman Chemical Co. common stock as of December 31, 2023. This amendment, number 14, updates their previous disclosures, signaling a potential shift in their investment strategy or a rebalancing of their portfolio. For investors, this matters because BlackRock is a major institutional investor, and changes in their holdings can sometimes signal their outlook on a company's future performance or industry trends.

Why It Matters

Large institutional investors like BlackRock often have significant research capabilities, so changes in their holdings can be seen as a vote of confidence or concern for a company's prospects.

Risk Assessment

Risk Level: low — This filing is a routine disclosure of ownership changes by a large institutional investor and doesn't inherently signal high risk.

Analyst Insight

An investor should monitor subsequent filings from BlackRock or other major institutions regarding Eastman Chemical Co. to discern a clearer trend in institutional sentiment.

Key Players & Entities

• BlackRock Inc. (company) — the reporting person and institutional investor
• EASTMAN CHEMICAL CO (company) — the subject company whose stock is being reported
• December 31, 2023 (date) — the date of the event requiring the filing
• January 26, 2024 (date) — the filing date of the SC 13G/A
• Amendment No: 14 (number) — the specific amendment number for this filing

Forward-Looking Statements

• BlackRock's updated stake in Eastman Chemical Co. suggests a re-evaluation of the company's position within their portfolio. (BlackRock Inc.) — medium confidence, target: Q1 2024

FAQ

From the Filing

0001086364-24-004699.txt : 20240126 0001086364-24-004699.hdr.sgml : 20240126 20240126162346 ACCESSION NUMBER: 0001086364-24-004699 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240126 DATE AS OF CHANGE: 20240126 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 FILM NUMBER: 24568179 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: BlackRock Inc. CENTRAL INDEX KEY: 0001364742 STANDARD INDUSTRIAL CLASSIFICATION: SECURITY BROKERS, DEALERS & FLOTATION COMPANIES [6211] ORGANIZATION NAME: 02 Finance IRS NUMBER: 320174431 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 BUSINESS PHONE: 212-810-5300 MAIL ADDRESS: STREET 1: 50 HUDSON YARDS CITY: NEW YORK STATE: NY ZIP: 10001 FORMER COMPANY: FORMER CONFORMED NAME: BlackRock, Inc. DATE OF NAME CHANGE: 20060929 FORMER COMPANY: FORMER CONFORMED NAME: New BlackRock, Inc. DATE OF NAME CHANGE: 20060601 SC 13G/A 1 us2774321002_012624.txt us2774321002_012624.txt SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No: 14) EASTMAN CHEMICAL CO -------------------------------------------------------- (Name of Issuer) Common Stock -------------------------------------------------------- (Title of Class of Securities) 277432100 -------------------------------------------------------- (CUSIP Number) December 31, 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) [ ] Rule 13d-1(c) [ ] 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. BlackRock, Inc. (2) Check the appropriate box if a member of a group (a) [ ] (b) [X] (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 7445770 (6) Shared voting power 0 (7) Sole dispositive power 8383444 (8) Shared dispositive power 0 (9) Aggregate amount beneficially owned by each reporting person 8383444 (10) Check if the aggregate amount in Row (9) excludes certain shares (11) Percent of class represented by amount in Row 9 7.1% (12) Type of reporting person HC Item 1. Item 1(a) Name of issuer: ----------------------------------------------------------------------- EASTMAN CHEMICAL CO Item 1(b) Address of issuer's principal executive offices: ----------------------------------------------------------------------- P O BOX 511 B-54D KINGSPORT TN 37662 Item 2. 2(a) Name of person filing: ---------------------------------------------------------------------- BlackRock, Inc. 2(b) Address or principal business of