Alyeska Investment Group L.P. Purchases 35,350 Shares of Eastman Chemical Company $EMN

Key Points

• Alyeska Investment Group increased its Eastman Chemical position by 22.3%, purchasing 35,350 additional shares to own 193,972 shares valued at approximately $13 million.
• Analysts maintain a generally positive outlook, with seven Buy and seven Hold ratings; MarketBeat reports a consensus rating of “Moderate Buy” and an average price target of $79.17.
• Eastman Chemical exceeded quarterly earnings and revenue expectations, reporting $1.97 EPS and $2.51 billion in revenue. The company also declared a quarterly dividend of $0.84 per share, representing a 4.6% annualized yield.

Alyeska Investment Group L.P. boosted its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 22.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 193,972 shares of the basic materials company's stock after buying an additional 35,350 shares during the period. Alyeska Investment Group L.P. owned approximately 0.17% of Eastman Chemical worth $12,992,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. MUFG Securities EMEA plc acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $25,000. Altshuler Shaham Ltd acquired a new position in Eastman Chemical during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC acquired a new position in Eastman Chemical during the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new stake in Eastman Chemical during the fourth quarter worth $27,000. Finally, McMillan Office Inc. bought a new stake in Eastman Chemical during the fourth quarter worth $29,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Wells Fargo & Company lifted their price target on Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $74.00 price objective on shares of Eastman Chemical in a research report on Monday, August 3rd. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a research report on Thursday, August 13th. The Goldman Sachs Group reissued a "neutral" rating and set a $75.00 target price on shares of Eastman Chemical in a research note on Thursday, July 16th. Finally, Citigroup dropped their target price on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating for the company in a report on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $79.17.

Eastman Chemical Price Performance

Shares of EMN opened at $72.51 on Tuesday. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The business has a 50-day simple moving average of $70.54 and a two-hundred day simple moving average of $72.46. 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 stock has a market cap of $8.29 billion, a PE ratio of 18.88, a PEG ratio of 0.90 and a beta of 1.06.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results 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 return on equity of 9.46% and a net margin of 4.99%.The firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the company earned $1.60 earnings per share. The business's quarterly revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. 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 disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be paid a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 annualized dividend and a dividend yield of 4.6%. Eastman Chemical's payout ratio is currently 87.50%.

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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