Caisse de depot et placement du Quebec Buys Shares of 258,646 Eastman Chemical Company $EMN

Key Points

• Caisse de dépôt et placement du Québec bought 258,646 Eastman Chemical shares worth approximately $17.3 million, giving it a 0.23% stake. Hedge funds and institutional investors collectively own 83.65% of the company.
• Eastman Chemical reported quarterly earnings of $1.97 per share, exceeding estimates of $1.82, while revenue rose 9.9% year over year to $2.51 billion.
• The company declared a quarterly dividend of $0.84 per share, equivalent to a 4.6% annualized yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.17.

Caisse de depot et placement du Quebec purchased a new position 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 purchased 258,646 shares of the basic materials company's stock, valued at approximately $17,324,000. Caisse de depot et placement du Quebec owned approximately 0.23% of Eastman Chemical at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in Eastman Chemical in the second quarter valued at about $25,000. Altshuler Shaham Ltd purchased a new stake in shares of Eastman Chemical during the fourth quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at about $27,000. Los Angeles Capital Management LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at about $27,000. Finally, McMillan Office Inc. purchased a new position in shares of Eastman Chemical in the 4th quarter worth approximately $29,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Performance

EMN opened at $73.19 on Friday. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. 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 company has a market cap of $8.37 billion, a P/E ratio of 19.06, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The firm's 50-day moving average price is $70.52 and its 200-day moving average price is $72.55.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts' consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. Eastman Chemical's revenue for the quarter was up 9.9% on a year-over-year basis. During the same period last year, the business earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities analysts anticipate 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. Stockholders of record on Tuesday, September 15th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical's payout ratio is presently 87.50%.

Analyst Ratings Changes

EMN has been the subject of several recent analyst reports. Wells Fargo & Company boosted their price objective on shares of Eastman Chemical from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Royal Bank Of Canada lifted their price target on shares of Eastman Chemical from $69.00 to $74.00 and gave the stock a "sector perform" rating in a report on Wednesday, August 5th. Morgan Stanley reduced their price target on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, July 2nd. UBS Group increased their price objective on Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised their price objective on Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Eastman Chemical has an average rating of "Moderate Buy" and an average price target of $79.17.

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.

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