Hsbc Holdings PLC Makes New Investment in Eastman Chemical Company $EMN

Key Points

• HSBC Holdings purchased 22,472 shares of Eastman Chemical during the second quarter, valued at approximately $1.49 million. Institutional investors collectively own 83.65% of the company.
• Eastman Chemical exceeded quarterly expectations, reporting $1.97 in earnings per share versus the $1.82 consensus estimate and $2.51 billion in revenue, up 9.9% year over year.
• The company declared a quarterly dividend of $0.84 per share, equivalent to an annualized $3.36 payout and a 4.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.17.

Hsbc Holdings PLC bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 22,472 shares of the basic materials company's stock, valued at approximately $1,490,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Lido Advisors LLC raised its holdings in shares of Eastman Chemical by 0.6% in the 4th quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company's stock worth $1,297,000 after purchasing an additional 125 shares during the period. Altshuler Shaham Ltd increased its position in Eastman Chemical by 36.9% in the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company's stock worth $41,000 after buying an additional 145 shares during the last quarter. Generali Asset Management SPA SGR raised its stake in shares of Eastman Chemical by 9.6% in the fourth quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company's stock valued at $109,000 after buying an additional 149 shares during the period. UMB Bank n.a. lifted its position in shares of Eastman Chemical by 6.2% during the 4th quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company's stock valued at $164,000 after buying an additional 150 shares during the last quarter. Finally, D.A. Davidson & CO. lifted its position in shares of Eastman Chemical by 0.7% during the 2nd quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company's stock valued at $1,389,000 after buying an additional 153 shares during the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $72.51 on Tuesday. The firm has a market capitalization of $8.29 billion, a P/E ratio of 18.88, a PEG ratio of 0.90 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 current ratio of 1.50 and a quick ratio of 0.76. The business has a fifty day moving average price of $70.54 and a 200-day moving average price of $72.46.

Eastman Chemical (NYSE:EMN - Get Free Report) last released 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. The company had revenue of $2.51 billion for the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm's revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the previous year, the company posted $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities research analysts forecast that Eastman Chemical Company will post 6.5 EPS for the current year.

Eastman Chemical Announces Dividend

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 dividend of $0.84 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 annualized dividend and a dividend yield of 4.6%. Eastman Chemical's dividend payout ratio is currently 87.50%.

Analyst Ratings Changes

Several brokerages recently weighed in on EMN. Wall Street Zen raised Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Wells Fargo & Company upped their price objective on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a report on Monday, May 4th. JPMorgan Chase & Co. increased their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the stock an "overweight" rating in a research report on Monday, May 4th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $75.00 target price on shares of Eastman Chemical in a research note on Thursday, July 16th. Finally, Royal Bank Of Canada boosted their price target on shares of Eastman Chemical from $69.00 to $74.00 and gave the company a "sector perform" rating in a research report on Wednesday, August 5th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target 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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