Royal Bank of Canada Increases Position in Eastman Chemical Company $EMN

Key Points

• Royal Bank of Canada increased its Eastman Chemical stake by 29.3% in the first quarter, bringing its holdings to 188,049 shares valued at approximately $14.4 million. Institutional investors collectively own 83.65% of EMN.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $79.17; Eastman Chemical recently exceeded quarterly EPS and revenue estimates, reporting $1.97 EPS and $2.51 billion in revenue.
• Eastman Chemical’s shares opened at $73.58, while the company declared a quarterly dividend of $0.84 per share, equivalent to a 4.6% annualized yield.

Royal Bank of Canada boosted its stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 29.3% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,049 shares of the basic materials company's stock after buying an additional 42,601 shares during the quarter. Royal Bank of Canada owned 0.16% of Eastman Chemical worth $14,352,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Lido Advisors LLC boosted its position in shares of Eastman Chemical by 0.6% in the fourth quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company's stock valued at $1,297,000 after acquiring an additional 125 shares during the period. Generali Asset Management SPA SGR boosted its holdings in Eastman Chemical by 9.6% in the 4th quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company's stock valued at $109,000 after purchasing an additional 149 shares during the period. UMB Bank n.a. grew 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 worth $164,000 after purchasing an additional 150 shares in the last quarter. Jacobi Capital Management LLC increased its holdings in shares of Eastman Chemical by 3.2% during the fourth quarter. Jacobi Capital Management LLC now owns 4,982 shares of the basic materials company's stock worth $318,000 after purchasing an additional 153 shares during the period. Finally, QRG Capital Management Inc. raised its position in shares of Eastman Chemical by 0.7% in the fourth quarter. QRG Capital Management Inc. now owns 23,069 shares of the basic materials company's stock valued at $1,472,000 after buying an additional 158 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company's stock.

Wall Street Analysts Forecast Growth

EMN has been the subject of several analyst reports. UBS Group lifted their price objective on Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a report on Monday. The Goldman Sachs Group restated a "neutral" rating and issued a $75.00 price target on shares of Eastman Chemical in a research report on Thursday, July 16th. Morgan Stanley dropped their price target on 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 upped their price objective on shares of Eastman Chemical from $69.00 to $74.00 and gave the stock a "sector perform" rating in a research report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft reissued a "hold" rating and issued a $74.00 target price on shares of Eastman Chemical in a report on Monday. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $79.17.

Eastman Chemical Stock Up 0.1%

EMN stock opened at $73.58 on Friday. The firm has a 50-day moving average price of $70.51 and a 200-day moving average price of $72.30. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $83.47. The company has a current ratio of 1.50, a quick ratio of 0.71 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $8.42 billion, a P/E ratio of 19.16, a price-to-earnings-growth ratio of 0.91 and a beta of 1.06.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating 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 company 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 firm posted $1.60 EPS. The firm's revenue 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, equities research analysts anticipate that Eastman Chemical Company will post 6.43 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

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

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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