Allspring Global Investments Holdings LLC Buys 732,693 Shares of Eastman Chemical Company $EMN

Key Points

• Allspring Global Investments Holdings boosted its Eastman Chemical stake by 39.4% in Q1, buying 732,693 additional shares and bringing its total holding to 2,592,691 shares, worth about $196.6 million.
• Eastman Chemical reported quarterly EPS of $1.09, slightly ahead of analyst estimates, while revenue came in at $2.18 billion; the company also issued Q2 2026 guidance of $1.70 to $1.90 EPS.
• The company pays a quarterly dividend of $0.84 per share ($3.36 annualized), implying a 4.9% yield, and Wall Street’s consensus rating remains Moderate Buy with an average price target of $80.50.

Allspring Global Investments Holdings LLC increased its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 39.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,592,691 shares of the basic materials company's stock after buying an additional 732,693 shares during the quarter. Allspring Global Investments Holdings LLC owned about 2.27% of Eastman Chemical worth $196,552,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in EMN. Independent Financial Group LLC acquired a new stake in Eastman Chemical during the first quarter worth about $538,000. D.A. Davidson & CO. raised its position in Eastman Chemical by 16.8% during the first quarter. D.A. Davidson & CO. now owns 20,590 shares of the basic materials company's stock valued at $1,571,000 after purchasing an additional 2,961 shares in the last quarter. Illinois Municipal Retirement Fund raised its position in Eastman Chemical by 9.0% during the first quarter. Illinois Municipal Retirement Fund now owns 64,799 shares of the basic materials company's stock valued at $4,945,000 after purchasing an additional 5,360 shares in the last quarter. Calamos Wealth Management LLC bought a new stake in Eastman Chemical during the first quarter worth $314,000. Finally, Calamos Advisors LLC acquired a new stake in shares of Eastman Chemical in the 1st quarter valued at $314,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Trading Up 2.1%

EMN opened at $69.27 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 fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company's 50 day moving average price is $71.58 and its two-hundred day moving average price is $71.98. The firm has a market capitalization of $7.92 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.87 and a beta of 1.07.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, topping analysts' consensus estimates of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The company had revenue of $2.18 billion for the quarter, compared to analyst estimates of $2.17 billion. During the same quarter in the previous year, the business earned $1.91 earnings per share. Eastman Chemical's 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. As a group, research analysts predict that Eastman Chemical Company will post 6.3 earnings per share for the current year.

Eastman Chemical Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were given a $0.84 dividend. The ex-dividend date was Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.9%. Eastman Chemical's payout ratio is 97.39%.

Analysts Set New Price Targets

Several brokerages recently weighed in on EMN. Morgan Stanley dropped their price objective on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. UBS Group lifted their target price on Eastman Chemical from $80.00 to $88.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Royal Bank Of Canada increased their target price on shares of Eastman Chemical from $79.00 to $82.00 and gave the stock a "sector perform" rating in a report on Tuesday, May 5th. Wells Fargo & Company raised their price target on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Finally, Mizuho set a $85.00 price objective on shares of Eastman Chemical in a research report on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $80.50.

Eastman Chemical Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.