Eastman Chemical Company $EMN Position Boosted by Sei Investments Co.

Key Points

• Sei Investments Co. boosted its Eastman Chemical stake by 8.5% in the first quarter, adding 90,297 shares and bringing its total to 1,147,650 shares valued at about $87.6 million.
• Analysts remain mixed on EMN, but the overall view is still “Moderate Buy” with an average price target of $80.50. Recent target increases came from Wells Fargo, RBC, and JPMorgan, while Deutsche Bank and Goldman Sachs kept hold/neutral views.
• Eastman Chemical reported Q1 earnings of $1.09 per share, slightly ahead of estimates, on revenue of $2.18 billion. The stock was trading around $68.16, and the company recently paid a quarterly dividend of $0.84 per share, implying a 4.9% annual yield.

Sei Investments Co. lifted its holdings in Eastman Chemical Company (NYSE:EMN - Free Report) by 8.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,147,650 shares of the basic materials company's stock after purchasing an additional 90,297 shares during the period. Sei Investments Co. owned about 1.00% of Eastman Chemical worth $87,589,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Cetera Investment Advisers lifted its stake in Eastman Chemical by 0.4% during the first quarter. Cetera Investment Advisers now owns 71,434 shares of the basic materials company's stock valued at $5,452,000 after purchasing an additional 262 shares during the last quarter. Impala Asset Management LLC acquired a new position in Eastman Chemical in the first quarter worth approximately $8,777,000. First Trust Advisors LP grew its position in Eastman Chemical by 14.2% in the first quarter. First Trust Advisors LP now owns 677,888 shares of the basic materials company's stock worth $51,736,000 after buying an additional 84,058 shares during the last quarter. Cassaday & Co Wealth Management LLC bought a new position in shares of Eastman Chemical in the first quarter valued at $106,000. Finally, Dimensional Fund Advisors LP lifted its position in shares of Eastman Chemical by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company's stock valued at $376,747,000 after acquiring an additional 338,914 shares during the last quarter. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on EMN shares. Wells Fargo & Company raised their price objective on Eastman Chemical from $70.00 to $80.00 and gave the stock an "equal weight" rating in a research note on Monday, May 4th. Deutsche Bank Aktiengesellschaft reaffirmed a "hold" rating and set a $82.00 target price on shares of Eastman Chemical in a research report on Tuesday, May 5th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Royal Bank Of Canada increased their price target on Eastman Chemical from $79.00 to $82.00 and gave the company a "sector perform" rating in a research report on Tuesday, May 5th. Finally, JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a research note on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $80.50.

Eastman Chemical Trading Up 0.4%

Eastman Chemical stock opened at $68.16 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 debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47. The firm has a market capitalization of $7.79 billion, a price-to-earnings ratio of 19.76, a P/E/G ratio of 0.87 and a beta of 1.07. The company has a 50 day moving average price of $71.00 and a 200 day moving average price of $72.11.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, April 30th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.07 by $0.02. The company had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The company's revenue was down 4.9% on a year-over-year basis. During the same period in the previous year, the business earned $1.91 EPS. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Research analysts forecast that Eastman Chemical Company will post 6.3 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were issued 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 4.9%. Eastman Chemical's payout ratio is currently 97.39%.

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.

Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical Company (NYSE:EMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.