Gateway Investment Advisers LLC Invests $3.66 Million in Eastman Chemical Company $EMN

Key Points

• Gateway Investment Advisers purchased 54,589 Eastman Chemical shares during the second quarter, valued at approximately $3.66 million. Institutional investors and hedge funds collectively own 83.65% of the company.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 in EPS versus the $1.82 consensus and revenue of $2.51 billion, up 9.9% year over year.
• The company declared a quarterly dividend of $0.84, equivalent to $3.36 annually and a 4.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.17.

Gateway Investment Advisers LLC bought a new position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 54,589 shares of the basic materials company's stock, valued at approximately $3,656,000.

Other hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company's stock worth $363,314,000 after acquiring an additional 1,112,391 shares during the last quarter. Dimensional Fund Advisors LP grew its position in 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 worth $376,747,000 after purchasing an additional 338,914 shares during the last quarter. Franklin Resources Inc. increased its stake in Eastman Chemical by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company's stock valued at $237,637,000 after purchasing an additional 20,634 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Eastman Chemical by 39.4% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company's stock valued at $196,552,000 after purchasing an additional 732,693 shares in the last quarter. Finally, Bank of America Corp DE raised its holdings in shares of Eastman Chemical by 6.1% in the second quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company's stock worth $184,909,000 after buying an additional 143,323 shares during the last quarter. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Price Performance

NYSE:EMN opened at $72.56 on Thursday. The firm's fifty day moving average is $70.39 and its two-hundred day moving average is $72.45. The firm has a market cap of $8.30 billion, a price-to-earnings ratio of 18.90, a PEG ratio of 0.93 and a beta of 1.06. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results 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 the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Research analysts expect that Eastman Chemical Company will post 6.43 EPS for the current year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical's dividend payout ratio is currently 87.50%.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Citigroup cut their target price on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. UBS Group increased their price objective on Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a report on Monday, August 3rd. The Goldman Sachs Group restated a "neutral" rating and issued a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday, July 16th. JPMorgan Chase & Co. lifted their target price on Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a report on Monday, May 4th. Finally, Mizuho set a $85.00 price target on shares of Eastman Chemical in a report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $79.17.

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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