Connor Clark & Lunn Investment Management Ltd. Makes New Investment in Eastman Chemical Company $EMN

Key Points

• Connor Clark & Lunn Investment Management Ltd. acquired a new position in Eastman Chemical Company, purchasing 5,448 shares valued at approximately $480,000 in the first quarter.
• Eastman Chemical announced a quarterly dividend of $0.83 per share, providing a 5.0% yield, with the ex-dividend date set for September 15th.
• The stock's recent performance includes a reported earnings miss for the last quarter, with earnings per share of $1.60, below analyst expectations of $1.72.

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 5,448 shares of the basic materials company's stock, valued at approximately $480,000.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC acquired a new position in Eastman Chemical during the fourth quarter valued at approximately $202,000. Townsquare Capital LLC raised its position in Eastman Chemical by 36.0% during the fourth quarter. Townsquare Capital LLC now owns 2,869 shares of the basic materials company's stock valued at $262,000 after purchasing an additional 759 shares in the last quarter. Mariner LLC raised its position in Eastman Chemical by 9.9% during the fourth quarter. Mariner LLC now owns 25,441 shares of the basic materials company's stock valued at $2,323,000 after purchasing an additional 2,288 shares in the last quarter. Marshall Wace LLP acquired a new position in Eastman Chemical during the fourth quarter valued at approximately $353,000. Finally, GeoWealth Management LLC raised its position in Eastman Chemical by 74.0% during the fourth quarter. GeoWealth Management LLC now owns 3,161 shares of the basic materials company's stock valued at $289,000 after purchasing an additional 1,344 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Up 5.2%

NYSE EMN traded up $3.4420 on Friday, reaching $69.4520. The company had a trading volume of 1,397,348 shares, compared to its average volume of 2,046,609. The firm has a market cap of $7.98 billion, a price-to-earnings ratio of 9.75, a P/E/G ratio of 6.31 and a beta of 1.21. Eastman Chemical Company has a fifty-two week low of $56.78 and a fifty-two week high of $114.50. The business has a 50 day moving average of $73.04 and a two-hundred day moving average of $81.46. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.68 and a quick ratio of 0.78.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The basic materials company reported $1.60 earnings per share for the quarter, missing analysts' consensus estimates of $1.72 by ($0.12). Eastman Chemical had a return on equity of 15.24% and a net margin of 8.96%.The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.32 billion. During the same quarter in the previous year, the business posted $2.15 earnings per share. The business's revenue was down 3.2% on a year-over-year basis. Eastman Chemical has set its Q3 2025 guidance at 1.250-1.250 EPS. Analysts forecast that Eastman Chemical Company will post 8.55 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 7th. Shareholders of record on Monday, September 15th will be issued a dividend of $0.83 per share. This represents a $3.32 dividend on an annualized basis and a yield of 4.8%. The ex-dividend date is Monday, September 15th. Eastman Chemical's dividend payout ratio (DPR) is presently 46.63%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Wall Street Zen downgraded shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Morgan Stanley lowered their price target on shares of Eastman Chemical from $125.00 to $115.00 and set an "overweight" rating for the company in a report on Monday, April 28th. JPMorgan Chase & Co. reiterated a "neutral" rating and set a $76.00 price target (down from $112.00) on shares of Eastman Chemical in a report on Monday, April 28th. KeyCorp set a $79.00 price target on shares of Eastman Chemical and gave the stock an "overweight" rating in a report on Monday, August 4th. Finally, Citigroup lowered their price target on shares of Eastman Chemical from $90.00 to $68.00 and set a "buy" rating for the company in a report on Monday, August 4th. Eight analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $87.00.

Eastman Chemical Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.