16,936,709 Shares in Eastman Chemical Company $EMN Purchased by BlackRock Inc.

BlackRock Inc. bought a new stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 16,936,709 shares of the basic materials company's stock, valued at approximately $1,134,421,000. BlackRock Inc. owned approximately 14.81% of Eastman Chemical at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in EMN. Lido Advisors LLC grew its position in shares of Eastman Chemical by 0.6% in the 4th quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company's stock worth $1,297,000 after buying an additional 125 shares during the last quarter. Altshuler Shaham Ltd boosted its stake in Eastman Chemical by 36.9% in the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company's stock valued at $41,000 after acquiring an additional 145 shares in the last quarter. Generali Asset Management SPA SGR grew its holdings in Eastman Chemical by 9.6% in the fourth quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company's stock worth $109,000 after purchasing an additional 149 shares during the last quarter. UMB Bank n.a. grew its holdings in Eastman Chemical by 6.2% in the fourth quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company's stock worth $164,000 after purchasing an additional 150 shares during the last quarter. Finally, D.A. Davidson & CO. increased its position in shares of Eastman Chemical by 0.7% during the second quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company's stock worth $1,389,000 after purchasing an additional 153 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

EMN has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $74.00 target price on shares of Eastman Chemical in a research note on Monday, August 3rd. Morgan Stanley cut their price objective on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. Citigroup cut their price objective on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Finally, Wall Street Zen raised Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average price target of $79.17.

Eastman Chemical Price Performance

NYSE:EMN opened at $74.20 on Friday. The company has a market capitalization of $8.49 billion, a P/E ratio of 19.32, a P/E/G ratio of 0.90 and a beta of 1.06. 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 52 week low of $56.11 and a 52 week high of $83.47. The stock's fifty day moving average is $70.56 and its two-hundred day moving average is $72.67.

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

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.5%. Eastman Chemical's dividend payout ratio (DPR) is currently 87.50%.

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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