HighTower Advisors LLC Acquires 24,337 Shares of Eastman Chemical Company $EMN

Key Points

• HighTower Advisors increased its Eastman Chemical stake by 2.4%, acquiring 24,337 shares to hold 1,024,817 shares valued at approximately $68.6 million. Institutional investors collectively own 83.65% of EMN.
• Analysts maintain a cautiously positive outlook, with seven Buy and seven Hold ratings, an overall “Moderate Buy” consensus, and an average price target of $79.17.
• Eastman Chemical exceeded quarterly expectations with $1.97 EPS and $2.51 billion in revenue, while declaring a quarterly dividend of $0.84 per share, equivalent to a 4.7% yield.

HighTower Advisors LLC lifted its holdings in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 2.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,024,817 shares of the basic materials company's stock after acquiring an additional 24,337 shares during the quarter. HighTower Advisors LLC owned approximately 0.90% of Eastman Chemical worth $68,642,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada boosted its stake in shares of Eastman Chemical by 29.3% during the 1st quarter. Royal Bank of Canada now owns 188,049 shares of the basic materials company's stock valued at $14,352,000 after purchasing an additional 42,601 shares in the last quarter. Thrivent Financial for Lutherans raised its stake in Eastman Chemical by 18.1% in the fourth quarter. Thrivent Financial for Lutherans now owns 617,870 shares of the basic materials company's stock worth $39,439,000 after buying an additional 94,679 shares in the last quarter. SVB Wealth LLC raised its stake in Eastman Chemical by 108.6% in the fourth quarter. SVB Wealth LLC now owns 49,571 shares of the basic materials company's stock worth $3,164,000 after buying an additional 25,806 shares in the last quarter. Empowered Funds LLC lifted its holdings in Eastman Chemical by 270.9% in the first quarter. Empowered Funds LLC now owns 65,611 shares of the basic materials company's stock worth $5,007,000 after buying an additional 47,923 shares during the period. Finally, Shoker Investment Counsel Inc. bought a new stake in Eastman Chemical during the 4th quarter valued at approximately $1,639,000. Hedge funds and other institutional investors own 83.65% of the company's stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Morgan Stanley reduced their target price on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $74.00 price target on shares of Eastman Chemical in a research report on Monday, August 3rd. Citigroup decreased their price objective on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating for the company in a report on Monday, August 3rd. The Goldman Sachs Group restated a "neutral" rating and set a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Finally, Wall Street Zen raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a research report on Saturday, August 1st. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Eastman Chemical presently has an average rating of "Moderate Buy" and a consensus price target of $79.17.

Eastman Chemical Stock Performance

Eastman Chemical stock opened at $71.15 on Tuesday. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $8.14 billion, a P/E ratio of 18.53, a PEG ratio of 0.87 and a beta of 1.07. The stock's 50 day moving average is $70.68 and its 200 day moving average is $72.14.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) 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 quarter in the previous year, the business earned $1.60 earnings per share. The firm's quarterly revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, equities research analysts predict that Eastman Chemical Company will post 6.5 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Stockholders of record on Tuesday, September 15th will be given a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical's payout ratio is currently 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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