60,571 Shares in Eastman Chemical Company $EMN Acquired by Valley Wealth Managers Inc.

Key Points

• Valley Wealth Managers Inc. initiated a new position in Eastman Chemical, buying 60,571 shares worth about $4.62 million in the first quarter and ending with 0.05% ownership.
• Eastman Chemical shares were trading around $68.67, with the stock down 0.7% on the day; the company has a market cap of $7.85 billion and a 4.9% dividend yield.
• The company recently beat quarterly EPS estimates and maintained analyst support, with Wall Street’s consensus rating at Moderate Buy and an average price target of $80.50.

Valley Wealth Managers Inc. bought a new position in Eastman Chemical Company (NYSE:EMN - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The fund bought 60,571 shares of the basic materials company's stock, valued at approximately $4,623,000. Valley Wealth Managers Inc. owned 0.05% of Eastman Chemical at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new stake in shares of Eastman Chemical in the second quarter worth $25,000. Altshuler Shaham Ltd bought a new stake in shares of Eastman Chemical during the 4th quarter valued at about $25,000. Brown Lisle Cummings Inc. increased its position in shares of Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 175 shares during the last quarter. Garton & Associates Financial Advisors LLC bought a new position in shares of Eastman Chemical in the 4th quarter worth approximately $27,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Eastman Chemical in the fourth quarter worth approximately $27,000. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Trading Down 0.7%

EMN stock opened at $68.67 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47. The business has a 50 day simple moving average of $71.49 and a two-hundred day simple moving average of $71.95. The company has a market capitalization of $7.85 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 0.88 and a beta of 1.07.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, topping the consensus estimate of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same quarter in the previous year, the firm earned $1.91 earnings per share. The company's quarterly revenue was down 4.9% compared to the same quarter last year. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Research analysts anticipate that Eastman Chemical Company will post 6.3 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical's dividend payout ratio is 97.39%.

Analysts Set New Price Targets

Several research firms have weighed in on EMN. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a research report on Monday, May 18th. Citigroup cut their price objective on shares of Eastman Chemical from $88.00 to $85.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Wells Fargo & Company upped their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and set a $82.00 target price on shares of Eastman Chemical in a research report on Tuesday, May 5th. Finally, Mizuho set a $85.00 price target on Eastman Chemical in a report on Friday, May 1st. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $80.50.

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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