14,240 Shares in Eastman Chemical Company $EMN Purchased by Freestone Grove Partners LP

Key Points

• Freestone Grove Partners acquired 14,240 Eastman Chemical shares worth approximately $954,000, while institutional investors collectively own 83.65% of the company.
• Eastman Chemical reported quarterly EPS of $1.97, beating estimates of $1.82, with revenue rising 9.9% year over year to $2.51 billion. Shares recently traded at $73.19.
• The company declared a quarterly dividend of $0.84, equivalent to a 4.6% annual yield. Analysts maintain a consensus “Moderate Buy” rating with an average price target of $79.17.

Freestone Grove Partners LP acquired a new position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,240 shares of the basic materials company's stock, valued at approximately $954,000.

Other institutional investors also recently modified their holdings of the company. BlackRock Inc. bought a new position in Eastman Chemical in the 2nd quarter valued at $1,134,421,000. State Street Corp grew its holdings in shares of Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company's stock worth $363,314,000 after purchasing an additional 1,112,391 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company's stock valued at $376,747,000 after buying an additional 338,914 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of Eastman Chemical by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company's stock valued at $237,637,000 after buying an additional 20,634 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of Eastman Chemical by 39.4% in the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company's stock valued at $196,552,000 after buying an additional 732,693 shares during the last quarter. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 0.7%

Shares of EMN opened at $73.19 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The firm has a market capitalization of $8.37 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06. The stock's fifty day simple moving average is $70.52 and its 200-day simple moving average is $72.55.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. The firm had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The company's revenue was up 9.9% on a year-over-year basis. During the same period last year, the company earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, research analysts predict that Eastman Chemical Company will post 6.5 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th will be paid a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is 87.50%.

Analysts Set New Price Targets

EMN has been the topic of several research reports. Morgan Stanley reduced their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, July 2nd. Citigroup lowered their price objective on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Wall Street Zen raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $74.00 target price on shares of Eastman Chemical in a research report on Monday, August 3rd. Finally, Royal Bank Of Canada increased their price target on shares of Eastman Chemical from $69.00 to $74.00 and gave the company a "sector perform" rating in a research note on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat, Eastman Chemical has a consensus rating of "Moderate Buy" and an average target price of $79.17.

About Eastman Chemical

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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