Eastman Chemical Company (NYSE:EMN) ranks 8th on our list of the S&P 500 stocks with a low PE ratio. On August 14, S&P Global Ratings downgraded EMN’s outlook to Negative from Stable, noting that there are sector pressures. Eastman Chemical (EMN) Outlook Cut To Negative By S&P Amid Tariff ImpactMarcin Balcerzak/Shutterstock.comEastman is adjusting its global inventory and material distribution, focusing on early sales in cyclical end markets, including construction, automotive, and consumer durables, to combat tariff pressures. The negative outlook reflects a roughly 33% risk that Eastman’s credit metrics could weaken below rating standards in the next two years. Eastman Chemical Company (NYSE:EMN), founded in 1920 and based in Tennessee, is a specialty materials company operating globally, with business segments including Additives & Functional Products, Advanced Materials, Chemical Intermediates, and Fibers.