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

From the Filing

0001104659-24-020048.txt : 20240213 0001104659-24-020048.hdr.sgml : 20240213 20240213165551 ACCESSION NUMBER: 0001104659-24-020048 CONFORMED SUBMISSION TYPE: SC 13G/A PUBLIC DOCUMENT COUNT: 1 FILED AS OF DATE: 20240213 DATE AS OF CHANGE: 20240213 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: 24627122 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: VANGUARD GROUP INC CENTRAL INDEX KEY: 0000102909 ORGANIZATION NAME: IRS NUMBER: 231945930 STATE OF INCORPORATION: PA FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: SC 13G/A BUSINESS ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 BUSINESS PHONE: 6106691000 MAIL ADDRESS: STREET 1: PO BOX 2600 STREET 2: V26 CITY: VALLEY FORGE STATE: PA ZIP: 19482-2600 SC 13G/A 1 tv0056-eastmanchemicalco.htm SCHEDULE 13G/A eastmanchemicalco SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Exchange Act of 1934 (Amendment No.: 16)* Name of issuer:  Eastman Chemical Co Title of Class of Securities:  Common Stock CUSIP Number:  277432100 Date of Event Which Requires Filing of this Statement: December 29, 2023 Check the appropriate box to designate the rule pursuant to which this Schedule is filed: ☒ 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). (Continued on the following page(s))     13G CUSIP No.:  277432100 1.  NAME OF REPORTING PERSON I.R.S. IDENTIFICATION NO. OF ABOVE PERSON The Vanguard Group - 23-1945930 2.  CHECK THE APPROPRIATE [LINE] IF A MEMBER OF A GROUP A.  B.  X 3.  SEC USE ONLY 4.  CITIZENSHIP OF PLACE OF ORGANIZATION Pennsylvania (For questions 5-8, report the number of shares beneficially owned by each reporting person with:) 5.  SOLE VOTING POWER 0 6.  SHARED VOTING POWER 152,639 7.  SOLE DISPOSITIVE POWER 14,323,259 8.  SHARED DISPOSITIVE POWER 516,419 9.  AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 14,839,678 10.  CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES N/A 11.  PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 12.52% 12.  TYPE OF REPORTING PERSON IA     SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Schedule 13G Under the Securities Act of 1934 Item 1(a) - Name of Issuer: Eastman Chemical Co Item 1(b) - Address of Issuer's Principal Executive Offices: 200 South Wilcox Drive Kingsport, TN 37660-5280 Item 2(a) - Name of Person Filing: The Vanguard Group - 23-1945930 Item 2(b) – Address of Principal Business Office or, if none, residence: 100 Vanguard Blvd. Malvern, PA 19355 Item 2(c) – Citizenship: Pennsylvania Item 2(d) - Title of Class of Securities: C