Allworth Financial LP Acquires New Stake in Eastman Chemical Company $EMN

Key Points

• Allworth Financial LP acquired 87,871 Eastman Chemical shares during the second quarter, valued at approximately $5.9 million. Institutional investors collectively own 83.65% of EMN.
• Eastman Chemical reported quarterly EPS of $1.97, exceeding estimates of $1.82, while revenue rose 9.9% year over year to $2.51 billion. Analysts maintain a “Moderate Buy” consensus with an average price target of $79.17.
• The company declared a quarterly dividend of $0.84 per share, or $3.36 annually, representing a 4.6% yield and an 87.5% payout ratio.

Allworth Financial LP acquired a new position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 87,871 shares of the basic materials company's stock, valued at approximately $5,886,000. Allworth Financial LP owned approximately 0.08% of Eastman Chemical at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of EMN. Brighton Jones LLC purchased a new stake in shares of Eastman Chemical in the 4th quarter valued at $202,000. Integrated Wealth Concepts LLC boosted its position in Eastman Chemical by 185.6% during the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock valued at $589,000 after buying an additional 4,345 shares during the period. Millennium Management LLC grew its stake in shares of Eastman Chemical by 69.2% during the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock valued at $17,098,000 after buying an additional 79,376 shares during the last quarter. NewEdge Advisors LLC grew its stake in shares of Eastman Chemical by 2.6% during the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock valued at $644,000 after buying an additional 183 shares during the last quarter. Finally, United Services Automobile Association purchased a new position in shares of Eastman Chemical in the first quarter worth about $252,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Stock Performance

Shares of EMN opened at $73.79 on Friday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The business's 50 day moving average price is $70.59 and its 200-day moving average price is $72.66. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $83.47. The stock has a market cap of $8.44 billion, a P/E ratio of 19.22, a P/E/G ratio of 0.92 and a beta of 1.06.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, beating the consensus estimate of $1.82 by $0.15. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the firm 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 research analysts anticipate that Eastman Chemical Company will post 6.5 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be given a $0.84 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 annualized dividend and a yield of 4.6%. Eastman Chemical's dividend payout ratio (DPR) is presently 87.50%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on EMN shares. UBS Group raised their target price on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and issued a $74.00 price objective on shares of Eastman Chemical in a research report on Monday, August 3rd. Citigroup lowered their price objective on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating for the company in a research note on Monday, August 3rd. Wall Street Zen upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Finally, JPMorgan Chase & Co. raised their target price on Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $79.17.

Eastman Chemical Company 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.

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