California State Teachers Retirement System Has $10.32 Million Holdings in Eastman Chemical Company $EMN

Key Points

• California State Teachers Retirement System increased its Eastman Chemical stake by 25.4% in the first quarter, bringing its holdings to 135,241 shares worth approximately $10.32 million. Institutional investors collectively own 83.65% of the company.
• Analysts maintain a “Moderate Buy” consensus on Eastman Chemical, with seven Buy and seven Hold ratings and an average price target of $79.83, above the stock’s reported opening price of $71.96.
• Eastman Chemical exceeded quarterly expectations with EPS of $1.97 versus the $1.82 estimate and revenue of $2.51 billion. The company also pays a quarterly dividend of $0.84 per share, representing a 4.7% annualized yield.

California State Teachers Retirement System lifted its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 25.4% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 135,241 shares of the basic materials company's stock after acquiring an additional 27,378 shares during the period. California State Teachers Retirement System owned about 0.12% of Eastman Chemical worth $10,322,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical during the second quarter valued at $25,000. Altshuler Shaham Ltd purchased a new position in Eastman Chemical during the 4th quarter valued at about $25,000. Brown Lisle Cummings Inc. increased its holdings in shares of Eastman Chemical by 70.0% in the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company's stock valued at $27,000 after purchasing an additional 175 shares during the period. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Eastman Chemical during the fourth quarter worth approximately $27,000. Finally, Los Angeles Capital Management LLC acquired a new position in Eastman Chemical in the 4th quarter valued at approximately $27,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eastman Chemical in a research note on Monday, May 18th. Morgan Stanley cut their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. The Goldman Sachs Group reiterated a "neutral" rating and issued a $75.00 price objective on shares of Eastman Chemical in a report on Thursday, July 16th. JPMorgan Chase & Co. increased their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. Finally, Citigroup cut their target price on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a report on Monday. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $79.83.

Eastman Chemical Price Performance

Shares of Eastman Chemical stock opened at $71.96 on Tuesday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The company has a market cap of $8.23 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 0.90 and a beta of 1.06. The firm has a fifty day moving average price of $70.67 and a two-hundred day moving average price of $72.20. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted 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. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.53%. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the previous year, the firm posted $1.60 EPS. The business's revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Analysts expect that Eastman Chemical Company will post 6.3 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were given a dividend of $0.84 per share. The ex-dividend date was Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.7%. Eastman Chemical's payout ratio is currently 87.50%.

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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