Canandaigua National Bank & Trust Co. Invests $1.68 Million in Eastman Chemical Company $EMN

Key Points

• Canandaigua National Bank & Trust purchased 25,019 Eastman Chemical shares worth approximately $1.68 million in the second quarter. Institutional investors and hedge funds collectively own 83.65% of EMN.
• Analyst sentiment is moderately bullish, with seven Buy and seven Hold ratings and a consensus price target of $79.17. UBS raised its target to $92, while Morgan Stanley lowered its target to $79.
• Eastman Chemical reported quarterly EPS of $1.97, beating estimates of $1.82, while revenue rose 9.9% year over year to $2.51 billion. The stock opened at $73.48, within its 12-month range of $56.11 to $83.47.

Canandaigua National Bank & Trust Co. bought a new position in Eastman Chemical Company (NYSE:EMN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 25,019 shares of the basic materials company's stock, valued at approximately $1,676,000.

Several other institutional investors and hedge funds have also made changes to their positions in EMN. Horizon Investments LLC boosted its position in Eastman Chemical by 3,022.6% during the fourth quarter. Horizon Investments LLC now owns 100,078 shares of the basic materials company's stock valued at $6,388,000 after purchasing an additional 96,873 shares during the last quarter. Deprince Race & Zollo Inc. increased its position in shares of Eastman Chemical by 21.7% during the 4th quarter. Deprince Race & Zollo Inc. now owns 559,128 shares of the basic materials company's stock worth $35,689,000 after purchasing an additional 99,883 shares during the last quarter. Yousif Capital Management LLC raised its stake in shares of Eastman Chemical by 81.8% during the 4th quarter. Yousif Capital Management LLC now owns 23,169 shares of the basic materials company's stock worth $1,534,000 after purchasing an additional 10,428 shares in the last quarter. State of Alaska Department of Revenue boosted its holdings in shares of Eastman Chemical by 84.2% in the 4th quarter. State of Alaska Department of Revenue now owns 100,129 shares of the basic materials company's stock valued at $6,390,000 after buying an additional 45,774 shares during the last quarter. Finally, DDD Partners LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter valued at approximately $15,425,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on EMN shares. UBS Group boosted their price objective on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a "buy" rating in a research note on Monday. Wall Street Zen upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research note on Saturday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a report on Monday, May 18th. Morgan Stanley dropped their price objective on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a research note on Thursday, July 2nd. Finally, Wells Fargo & Company raised their price objective on Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $79.17.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $73.48 on Thursday. The company has a market capitalization of $8.40 billion, a price-to-earnings ratio of 19.13, a PEG ratio of 0.92 and a beta of 1.06. The company has a current ratio of 1.50, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $83.47. The stock's 50 day moving average is $70.61 and its 200-day moving average is $72.26.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The company's revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities research analysts expect that Eastman Chemical Company will post 6.39 EPS for the current year.

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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