Azimuth Capital Investment Management LLC Makes New $3.93 Million Investment in Eastman Chemical Company $EMN

Key Points

• Azimuth Capital Investment Management initiated a $3.93 million position in Eastman Chemical during the second quarter, purchasing 58,670 shares. Institutional investors collectively own 83.65% of the company.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 earnings per share versus the $1.82 consensus estimate and revenue of $2.51 billion, up 9.9% year over year.
• The company declared a quarterly dividend of $0.84 per share, equivalent to a 4.7% yield, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.17.

Azimuth Capital Investment Management LLC bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,670 shares of the basic materials company's stock, valued at approximately $3,930,000. Azimuth Capital Investment Management LLC owned about 0.05% of Eastman Chemical as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position in Eastman Chemical by 29.3% during the 1st quarter. Royal Bank of Canada now owns 188,049 shares of the basic materials company's stock worth $14,352,000 after purchasing an additional 42,601 shares during the last quarter. Thrivent Financial for Lutherans raised its holdings in shares of Eastman Chemical by 18.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 617,870 shares of the basic materials company's stock valued at $39,439,000 after buying an additional 94,679 shares during the last quarter. SVB Wealth LLC boosted its stake in shares of Eastman Chemical by 108.6% during the fourth quarter. SVB Wealth LLC now owns 49,571 shares of the basic materials company's stock worth $3,164,000 after buying an additional 25,806 shares during the period. Empowered Funds LLC boosted its stake in shares of Eastman Chemical by 270.9% during the first quarter. Empowered Funds LLC now owns 65,611 shares of the basic materials company's stock worth $5,007,000 after buying an additional 47,923 shares during the period. Finally, Shoker Investment Counsel Inc. purchased a new position in shares of Eastman Chemical during the fourth quarter worth about $1,639,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Eastman Chemical Stock Down 0.1%

Eastman Chemical stock opened at $71.15 on Monday. The stock's 50 day moving average price is $70.60 and its 200 day moving average price is $72.20. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47. The company has a market cap of $8.14 billion, a PE ratio of 18.53, a price-to-earnings-growth ratio of 0.87 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.82 by $0.15. The firm had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.Eastman Chemical's revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, sell-side analysts predict that Eastman Chemical Company will post 6.5 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business 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 is Tuesday, September 15th. This represents a $3.36 annualized dividend and a dividend yield of 4.7%. Eastman Chemical's dividend payout ratio (DPR) is 87.50%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on EMN shares. Royal Bank Of Canada boosted their price target on Eastman Chemical from $69.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. Weiss Ratings restated a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 price target on shares of Eastman Chemical in a report on Thursday, July 16th. 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. Finally, Citigroup lowered their target price on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $79.17.

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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