Oppenheimer Asset Management Inc. Acquires New Shares in Eastman Chemical Company $EMN

Key Points

• Oppenheimer Asset Management acquired 32,872 Eastman Chemical shares worth approximately $2.2 million in the second quarter, while institutional investors collectively own 83.65% of the company.
• Eastman Chemical reported quarterly EPS of $1.97, exceeding the $1.82 consensus estimate, with revenue rising 9.9% year over year to $2.51 billion.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $79.17. Eastman also declared a quarterly dividend of $0.84 per share, representing a 4.5% yield.

Oppenheimer Asset Management Inc. acquired a new position in Eastman Chemical Company (NYSE:EMN - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 32,872 shares of the basic materials company's stock, valued at approximately $2,202,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $25,000. Altshuler Shaham Ltd bought a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC bought a new position in shares of Eastman Chemical during the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $27,000. Finally, McMillan Office Inc. purchased a new position in Eastman Chemical during the fourth quarter valued at approximately $29,000. 83.65% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on EMN. UBS Group upped their target price on Eastman Chemical from $89.00 to $92.00 and gave the stock a "buy" rating in a report on Monday, August 3rd. Morgan Stanley cut their price target on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report on Thursday, July 2nd. Citigroup reduced their price target on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating for the company in a research report on Monday, August 3rd. Weiss Ratings restated a "hold (c)" rating on shares of Eastman Chemical in a research note on Monday, May 18th. Finally, The Goldman Sachs Group reaffirmed a "neutral" rating and set a $75.00 price objective on shares of Eastman Chemical in a research report on Thursday, July 16th. Seven research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $79.17.

Eastman Chemical Price Performance

Shares of EMN opened at $74.05 on Monday. The company has a market cap of $8.47 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06. 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 50 day moving average of $70.45 and a two-hundred day moving average of $72.52.

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

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be given a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical's dividend payout ratio is currently 87.50%.

Eastman Chemical News Summary

Here are the key news stories impacting Eastman Chemical this week:

• Positive Sentiment: Zacks raised its Q3 2026 EPS forecast to $1.95 from $1.69, Q4 2026 to $1.38 from $1.33, Q1 2027 to $1.61 from $1.52, Q2 2027 to $1.73 from $1.69, and Q3 2027 to $1.77 from $1.70. Zacks also lifted its FY2027 estimate to $6.76 from $6.59, indicating stronger expected earnings momentum over the next several quarters. Eastman Chemical earnings estimate revisions
• Neutral Sentiment: The revisions leave Zacks’ FY2028 EPS forecast at $6.93, above the current-year consensus estimate of $6.43 but below its previous $7.09 forecast. Zacks also trimmed Q2 2028 EPS to $1.78 from $1.84 and Q4 2027 to $1.65 from $1.67, suggesting some longer-term caution despite the improved near-term outlook. Eastman Chemical earnings estimate revisions
• Positive Sentiment: A separate Zacks analysis described EMN as a strong value stock, which may support investor interest given the company’s earnings outlook and valuation profile. However, the article is a general style-rating assessment rather than a new operating or financial announcement. Here's Why Eastman Chemical is a Strong Value Stock

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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This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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