Oak Thistle LLC Takes Position in Eastman Chemical Company $EMN

Key Points

• Oak Thistle LLC purchased 14,779 Eastman Chemical shares in the second quarter, valued at approximately $990,000. Institutional investors collectively own 83.65% of EMN’s outstanding stock.
• Eastman Chemical reported quarterly earnings of $1.97 per share, beating estimates of $1.82, while revenue rose 9.9% year over year to $2.51 billion.
• The company declared a quarterly dividend of $0.84 per share, equivalent to a 4.6% yield. Analysts maintain a “Moderate Buy” consensus rating with an average price target of $79.17, above the reported share price of $72.56.

Oak Thistle LLC purchased a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 14,779 shares of the basic materials company's stock, valued at approximately $990,000.

Other institutional investors also recently bought and sold shares of the company. Gateway Investment Advisers LLC bought a new stake in shares of Eastman Chemical in the 2nd quarter worth about $3,656,000. Butensky & Cohen Financial Security Inc. boosted its holdings in Eastman Chemical by 19.9% during the 2nd quarter. Butensky & Cohen Financial Security Inc. now owns 58,355 shares of the basic materials company's stock valued at $3,909,000 after acquiring an additional 9,694 shares during the period. Rockland Trust Co. grew its position in Eastman Chemical by 81.0% in the 2nd quarter. Rockland Trust Co. now owns 10,496 shares of the basic materials company's stock valued at $703,000 after acquiring an additional 4,696 shares during the last quarter. Kwmg LLC increased its stake in Eastman Chemical by 4.5% in the second quarter. Kwmg LLC now owns 80,379 shares of the basic materials company's stock worth $5,384,000 after purchasing an additional 3,457 shares during the period. Finally, Canandaigua National Bank & Trust Co. purchased a new stake in Eastman Chemical in the second quarter worth $1,676,000. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Trading Down 3.0%

Shares of NYSE:EMN opened at $72.56 on Thursday. The company has a market capitalization of $8.30 billion, a PE ratio of 18.90, a P/E/G ratio of 0.93 and a beta of 1.06. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The business's fifty day simple moving average is $70.39 and its 200-day simple moving average is $72.45.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share 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 company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm's revenue for the quarter 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. As a group, equities research analysts predict that Eastman Chemical Company will post 6.43 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

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

Analyst Ratings Changes

EMN has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research note on Monday, May 4th. Royal Bank Of Canada raised their price target on shares of Eastman Chemical from $69.00 to $74.00 and gave the stock a "sector perform" rating in a research note on Wednesday, August 5th. Weiss Ratings reissued a "hold (c)" rating on shares of Eastman Chemical in a research report on Monday, May 18th. Citigroup dropped their target price on shares of Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. raised 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. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $79.17.

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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