17,794 Shares in Eastman Chemical Company $EMN Acquired by Canandaigua National Trust Co of Florida

Key Points

• Canandaigua National Trust Co. of Florida acquired 17,794 Eastman Chemical shares worth approximately $1.15 million. Institutional investors and hedge funds collectively own 83.65% of EMN.
• Analyst sentiment remains mixed, with seven Buy ratings and eight Holds; the consensus rating is Hold, with a $77.69 price target. UBS recently cut its target to $77 while maintaining a Buy rating.
• Eastman Chemical shares recently traded at $63.23, below their 50- and 200-day moving averages. The company reported better-than-expected quarterly earnings and declared a quarterly dividend of $0.84, representing a 5.3% annualized yield.

Canandaigua National Trust Co of Florida bought a new stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 17,794 shares of the basic materials company's stock, valued at approximately $1,154,000.

Several other large investors have also recently made changes to their positions in the company. BlackRock Inc. acquired a new stake in Eastman Chemical during the second quarter valued at $1,134,421,000. Dimensional Fund Advisors LP increased its holdings in 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. State Street Corp raised its position in shares of Eastman Chemical by 0.7% in the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company's stock worth $282,741,000 after acquiring an additional 29,010 shares during the period. Franklin Resources Inc. boosted its stake in shares of Eastman Chemical by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company's stock worth $237,637,000 after acquiring an additional 20,634 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its stake in shares of Eastman Chemical by 39.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company's stock worth $196,552,000 after acquiring an additional 732,693 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

EMN has been the subject of several recent analyst reports. UBS Group cut their price target on Eastman Chemical from $92.00 to $77.00 and set a "buy" rating for the company in a research note on Monday. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Morgan Stanley decreased their target price on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, July 2nd. Royal Bank Of Canada lifted 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. Finally, The Goldman Sachs Group reissued a "neutral" rating and issued a $75.00 price target on shares of Eastman Chemical in a report on Thursday, July 16th. Seven equities research analysts have rated the stock with a Buy rating and eight have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $77.69.

Eastman Chemical Price Performance

NYSE:EMN traded down $0.88 during trading hours on Wednesday, hitting $63.23. 1,598,272 shares of the stock were exchanged, compared to its average volume of 1,376,422. The firm's fifty day moving average price is $69.91 and its 200 day moving average price is $71.11. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The company has a market cap of $7.23 billion, a P/E ratio of 16.47, a P/E/G ratio of 0.80 and a beta of 1.06. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the business posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities research analysts anticipate that Eastman Chemical Company will post 6.47 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 5.3%. Eastman Chemical's dividend payout ratio (DPR) is presently 87.50%.

Eastman Chemical Company Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman's portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.

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