Corient Private Wealth LP Takes Position in Eastman Chemical Company $EMN

Key Points

• Corient Private Wealth LP acquired 50,891 Eastman Chemical shares in the second quarter, valued at approximately $3.4 million. Institutional investors collectively own 83.65% of EMN.
• Analyst sentiment remains moderately positive, with seven Buy and seven Hold ratings and a consensus price target of $79.17. Recent actions included RBC raising its target to $74 and Morgan Stanley lowering its target to $79.
• Eastman exceeded quarterly expectations, reporting $1.97 EPS and $2.51 billion in revenue, up 9.9% year over year. The company also declared a quarterly dividend of $0.84 per share, representing a 4.8% yield.

Corient Private Wealth LP acquired a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 50,891 shares of the basic materials company's stock, valued at approximately $3,408,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Brighton Jones LLC bought a new position in shares of Eastman Chemical during the fourth quarter valued at $202,000. Integrated Wealth Concepts LLC raised its position in Eastman Chemical by 185.6% during the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company's stock worth $589,000 after purchasing an additional 4,345 shares during the last quarter. Millennium Management LLC grew its position in shares of Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company's stock valued at $17,098,000 after buying an additional 79,376 shares during the last quarter. NewEdge Advisors LLC increased its stake in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company's stock valued at $644,000 after buying an additional 183 shares during the period. Finally, United Services Automobile Association bought a new position in shares of Eastman Chemical during the first quarter worth about $252,000. 83.65% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have issued reports on EMN. Royal Bank Of Canada raised 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 dropped their target price 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. Wall Street Zen upgraded Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $74.00 price objective on shares of Eastman Chemical in a research note on Monday, August 3rd. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a report on Thursday, August 13th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $79.17.

Eastman Chemical Price Performance

EMN stock opened at $70.05 on Wednesday. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The company's 50-day moving average is $70.55 and its 200-day moving average is $72.38. The stock has a market capitalization of $8.01 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47.

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

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be given a $0.84 dividend. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 annualized dividend and a yield of 4.8%. Eastman Chemical's dividend payout ratio (DPR) is presently 87.50%.

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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