Eastman Chemical Company $EMN Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management increased its Eastman Chemical stake by 70.2% in the second quarter, bringing its holdings to 229,789 shares valued at approximately $15.4 million. Institutional investors and hedge funds collectively own 83.65% of EMN.
• Analyst sentiment is moderately bullish, with seven Buy ratings and seven Hold ratings and a consensus price target of $79.17. UBS raised its target to $92, while Citigroup lowered its target to $81.
• Eastman Chemical exceeded quarterly earnings and revenue expectations, reporting $1.97 in EPS and $2.51 billion in revenue, while revenue grew 9.9% year over year. The company also declared a quarterly dividend of $0.84, equivalent to a 4.8% annualized yield.

Allianz Asset Management GmbH raised its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 70.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,789 shares of the basic materials company's stock after acquiring an additional 94,798 shares during the quarter. Allianz Asset Management GmbH owned approximately 0.20% of Eastman Chemical worth $15,391,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in EMN. Royal Bank of Canada lifted its position in Eastman Chemical by 29.3% during the first quarter. Royal Bank of Canada now owns 188,049 shares of the basic materials company's stock worth $14,352,000 after buying an additional 42,601 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in Eastman Chemical by 18.1% in the 4th quarter. Thrivent Financial for Lutherans now owns 617,870 shares of the basic materials company's stock valued at $39,439,000 after buying an additional 94,679 shares in the last quarter. Empowered Funds LLC increased its stake in shares of Eastman Chemical by 270.9% in the 1st quarter. Empowered Funds LLC now owns 65,611 shares of the basic materials company's stock worth $5,007,000 after acquiring an additional 47,923 shares during the last quarter. Freestone Grove Partners LP purchased a new position in shares of Eastman Chemical during the 2nd quarter worth $954,000. Finally, Oak Thistle LLC purchased a new position in shares of Eastman Chemical during the 2nd quarter worth $990,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

EMN has been the subject of a number of analyst reports. Wall Street Zen raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a report on Thursday, August 13th. UBS Group increased their price target on shares of Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Citigroup reduced their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Finally, Deutsche Bank Aktiengesellschaft reiterated a "hold" rating and issued a $74.00 price objective on shares of Eastman Chemical in a report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $79.17.

Eastman Chemical Stock Down 1.1%

Shares of NYSE EMN opened at $70.38 on Wednesday. The firm has a market cap of $8.05 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 0.87 and a beta of 1.07. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The business's 50 day moving average is $70.75 and its two-hundred day moving average is $72.07.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, beating 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 during the quarter, compared to analysts' expectations of $2.40 billion. During the same period in the previous year, the firm posted $1.60 earnings per share. The company's revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Research analysts predict that Eastman Chemical Company will post 6.5 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be issued a $0.84 dividend. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. Eastman Chemical's payout ratio is 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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