First Trust Advisors LP Grows Stake in Eastman Chemical Company $EMN

First Trust Advisors LP increased its position in Eastman Chemical Company (NYSE:EMN - Free Report) by 14.2% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 677,888 shares of the basic materials company's stock after acquiring an additional 84,058 shares during the period. First Trust Advisors LP owned about 0.59% of Eastman Chemical worth $51,736,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Cassaday & Co Wealth Management LLC bought a new stake in shares of Eastman Chemical during the 1st quarter valued at about $106,000. Dimensional Fund Advisors LP lifted its stake in shares of Eastman Chemical by 7.4% in the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company's stock worth $376,747,000 after purchasing an additional 338,914 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Eastman Chemical by 16.5% in the first quarter. Parallel Advisors LLC now owns 3,287 shares of the basic materials company's stock worth $251,000 after buying an additional 465 shares during the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Eastman Chemical in the first quarter worth approximately $4,623,000. Finally, Bessemer Group Inc. grew its position in Eastman Chemical by 27.0% during the first quarter. Bessemer Group Inc. now owns 126,496 shares of the basic materials company's stock valued at $9,654,000 after buying an additional 26,884 shares during the period. Hedge funds and other institutional investors own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EMN. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a research report on Monday, May 18th. Deutsche Bank Aktiengesellschaft reissued a "hold" rating and set a $82.00 price objective on shares of Eastman Chemical in a research report on Tuesday, May 5th. Wells Fargo & Company raised their target price on Eastman Chemical from $70.00 to $80.00 and gave the stock an "equal weight" rating in a report on Monday, May 4th. Citigroup lowered their target price on Eastman Chemical from $88.00 to $85.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. Finally, Mizuho set a $85.00 price target on Eastman Chemical in a report on Friday, May 1st. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $80.50.

Eastman Chemical Stock Performance

EMN opened at $68.16 on Monday. The firm has a market cap of $7.79 billion, a P/E ratio of 19.76, a PEG ratio of 0.88 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. The company has a 50 day simple moving average of $71.00 and a two-hundred day simple moving average of $72.16. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71.

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

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were issued a dividend of $0.84 per share. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.9%. Eastman Chemical's dividend payout ratio (DPR) is currently 97.39%.

About Eastman Chemical

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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