Jupiter Topco LLC Makes New Investment in Eastman Chemical Company $EMN

Key Points

• Jupiter Topco LLC acquired 51,042 shares of Eastman Chemical in the second quarter, valued at approximately $3.42 million. Institutional investors collectively own 83.65% of the company.
• Eastman Chemical reported quarterly EPS of $1.97, beating estimates of $1.82, while revenue rose 9.9% year over year to $2.51 billion. The company also declared a quarterly dividend of $0.84, representing an annualized yield of about 4.8%.
• Analysts maintain a consensus “Moderate Buy” rating, with an average price target of $79.17 versus the stock’s recent price of $70.05.

Jupiter Topco 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 Securities and Exchange Commission. The fund bought 51,042 shares of the basic materials company's stock, valued at approximately $3,420,000.

A number of other large investors have also made changes to their positions in the stock. MUFG Securities EMEA plc acquired a new position in Eastman Chemical during the second quarter worth $25,000. Altshuler Shaham Ltd acquired a new stake in shares of Eastman Chemical in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Eastman Chemical in the 4th quarter worth $27,000. Los Angeles Capital Management LLC purchased a new position in shares of Eastman Chemical during the 4th quarter worth $27,000. Finally, McMillan Office Inc. acquired a new position in shares of Eastman Chemical during the 4th quarter valued at about $29,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Price Performance

Eastman Chemical stock opened at $70.05 on Wednesday. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The firm has a market cap of $8.01 billion, a PE ratio of 18.24, a price-to-earnings-growth ratio of 0.89 and a beta of 1.07. The company's 50 day moving average is $70.55 and its two-hundred day moving average is $72.38.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping the consensus estimate of $1.82 by $0.15. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The company's quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. On average, research analysts expect that Eastman Chemical Company will post 6.5 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.8%. Eastman Chemical's dividend payout ratio (DPR) is currently 87.50%.

Analyst Ratings Changes

A number of brokerages recently issued reports on EMN. Wall Street Zen raised shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, August 1st. Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a report on Thursday, August 13th. Morgan Stanley dropped their price target on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research note on Thursday, July 2nd. Royal Bank Of Canada lifted 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. Finally, Citigroup decreased their price objective on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average 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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