Sanctuary Advisors LLC Invests $925,000 in Eastman Chemical Company $EMN

Key Points

• Sanctuary Advisors LLC acquired 13,815 Eastman Chemical shares worth approximately $925,000, while institutional investors collectively own 83.65% of the company.
• Analyst sentiment remains positive, with seven Buy and seven Hold ratings, resulting in a “Moderate Buy” consensus and an average price target of $79.17.
• Eastman exceeded quarterly earnings and revenue expectations, reporting $1.97 EPS and $2.51 billion in revenue, and declared a quarterly dividend of $0.84 per share—a 4.6% annualized yield.

Sanctuary Advisors LLC bought a new stake in shares of Eastman Chemical Company (NYSE:EMN - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,815 shares of the basic materials company's stock, valued at approximately $925,000.

Other large investors have also recently added to or reduced their stakes in the company. MUFG Securities EMEA plc bought a new position in shares of Eastman Chemical in the second quarter valued at $25,000. Altshuler Shaham Ltd bought a new stake in shares of Eastman Chemical during the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $27,000. Los Angeles Capital Management LLC acquired a new position in shares of Eastman Chemical in the 4th quarter worth $27,000. Finally, McMillan Office Inc. acquired a new stake in shares of Eastman Chemical during the fourth quarter worth $29,000. 83.65% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

EMN has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their price target on Eastman Chemical from $70.00 to $80.00 and gave the company an "equal weight" rating in a research report on Monday, May 4th. Morgan Stanley cut their price objective on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a report 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 company a "sector perform" rating in a research note on Wednesday, August 5th. JPMorgan Chase & Co. lifted 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. Finally, UBS Group boosted their price target on shares of Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $79.17.

Eastman Chemical Stock Down 0.3%

Shares of Eastman Chemical stock opened at $72.73 on Friday. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47. The company has a market cap of $8.32 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.89 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. The stock has a 50-day moving average price of $70.51 and a 200 day moving average price of $72.55.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its earnings results 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. The company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm's quarterly revenue was up 9.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.60 EPS. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, 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. Stockholders of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 4.6%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical's payout ratio is currently 87.50%.

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.

Want to see what other hedge funds are holding EMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eastman Chemical Company (NYSE:EMN - Free Report).

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.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source