Eastman Chemical Company to Issue Quarterly Dividend of $0.84 (NYSE:EMN)

Key Points

• Eastman Chemical declared a quarterly dividend of $0.84 per share, payable October 7 to shareholders of record on September 15. The dividend implies an annualized payout of $3.36 and a yield of approximately 4.5%.
• The company has raised its dividend for 15 consecutive years, with a current earnings payout ratio of 40.4%; analysts expect a forward payout ratio of about 48.1%, indicating continued coverage.
• Eastman exceeded quarterly expectations, reporting $1.97 in EPS versus the $1.82 consensus and $2.51 billion in revenue versus $2.40 billion expected. Institutional investors own approximately 83.65% of the stock.

Eastman Chemical Company (NYSE:EMN - Get Free Report) declared a quarterly dividend on Thursday, August 6th. Shareholders of record on Tuesday, September 15th will be given a dividend of 0.84 per share by the basic materials company on Wednesday, October 7th. This represents a c) annualized dividend and a yield of 4.5%. The ex-dividend date is Tuesday, September 15th.

Eastman Chemical has increased its dividend payment by an average of 0.0%per year over the last three years and has raised its dividend every year for the last 15 years. Eastman Chemical has a payout ratio of 40.4% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Eastman Chemical to earn $6.99 per share next year, which means the company should continue to be able to cover its $3.36 annual dividend with an expected future payout ratio of 48.1%.

Eastman Chemical Price Performance

Eastman Chemical stock traded up $0.76 during mid-day trading on Friday, reaching $74.26. The company had a trading volume of 173,088 shares, compared to its average volume of 1,458,432. The stock's 50-day simple moving average is $70.55 and its 200-day simple moving average is $72.29. Eastman Chemical has a 1 year low of $56.11 and a 1 year high of $83.47. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.71. The company has a market capitalization of $8.49 billion, a P/E ratio of 19.35, a P/E/G ratio of 0.91 and a beta of 1.06.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.82 by $0.15. The business had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The business's revenue was up 9.9% on a year-over-year basis. During the same period in the prior year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities analysts predict that Eastman Chemical will post 6.43 EPS for the current year.

Institutional Investors Weigh In On Eastman Chemical

A number of hedge funds and other institutional investors have recently bought and sold shares of EMN. Brighton Jones LLC acquired a new position in Eastman Chemical during the 4th quarter valued at about $202,000. Integrated Wealth Concepts LLC grew its stake in shares of Eastman Chemical by 185.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock worth $589,000 after purchasing an additional 4,345 shares during the period. Millennium Management LLC increased its holdings in Eastman Chemical by 69.2% in the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock valued at $17,098,000 after purchasing an additional 79,376 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock valued at $644,000 after buying an additional 183 shares during the period. Finally, United Services Automobile Association acquired a new position in shares of Eastman Chemical during the 1st quarter worth about $252,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops, manufactures and markets a broad range of advanced materials, chemicals and fibers. Its product portfolio spans performance additives, functional products, and engineered plastics designed to enhance the durability, appearance and performance of end products across diverse industries.

The company's main business activities include the production of specialty chemicals used in adhesives, coatings, building materials and consumer care applications, as well as high-performance plastics for packaging, automotive and electronics markets.

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