Hsbc Holdings PLC Acquires 33,123 Shares of Eastman Chemical Company $EMN

Key Points

• HSBC Holdings PLC sharply increased its stake in Eastman Chemical, buying 33,123 additional shares in Q1 and lifting its holdings by 879.8% to 36,888 shares valued at about $2.79 million.
• Eastman Chemical’s latest earnings topped expectations slightly, with Q1 EPS of $1.09 versus $1.07 estimated and revenue of $2.18 billion, though sales were down 4.9% year over year.
• The stock offers a sizable dividend yield and mixed analyst sentiment, paying a $0.84 quarterly dividend for a 4.9% yield, while analysts currently rate it a “Moderate Buy” with an average price target of $80.50.

Hsbc Holdings PLC boosted its stake in Eastman Chemical Company (NYSE:EMN - Free Report) by 879.8% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 36,888 shares of the basic materials company's stock after buying an additional 33,123 shares during the quarter. Hsbc Holdings PLC's holdings in Eastman Chemical were worth $2,787,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the company. MUFG Securities EMEA plc bought a new stake in shares of Eastman Chemical in the 2nd quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new position in Eastman Chemical during the 4th quarter valued at about $25,000. Brown Lisle Cummings Inc. increased its holdings in Eastman Chemical by 70.0% during the 4th quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company's stock worth $27,000 after acquiring an additional 175 shares during the period. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Eastman Chemical in the fourth quarter worth $27,000. Finally, Los Angeles Capital Management LLC purchased a new position in shares of Eastman Chemical during the fourth quarter worth about $27,000. Institutional investors own 83.65% of the company's stock.

Eastman Chemical Price Performance

Shares of NYSE:EMN opened at $68.16 on Friday. The company has a market capitalization of $7.79 billion, a P/E ratio of 19.76, a P/E/G ratio of 0.88 and a beta of 1.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The firm's 50 day simple moving average is $71.00 and its two-hundred day simple moving average is $72.11. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47.

Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data 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. 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 for the quarter, compared to analysts' expectations of $2.17 billion. During the same quarter last year, the business 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. Research analysts expect that Eastman Chemical Company will post 6.3 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were given a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical's payout ratio is 97.39%.

Analysts Set New Price Targets

EMN has been the topic of a number of research reports. Mizuho set a $85.00 price objective on Eastman Chemical in a report on Friday, May 1st. Wells Fargo & Company boosted their price target on Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 target price on shares of Eastman Chemical in a research note on Thursday, July 16th. Morgan Stanley decreased their price objective on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a report on Thursday, July 2nd. Finally, Citigroup lowered their target price on shares of Eastman Chemical from $88.00 to $85.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of "Moderate Buy" and a consensus target price of $80.50.

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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