State Street Corp Purchases 29,010 Shares of Eastman Chemical Company $EMN

Key Points

• State Street increased its Eastman Chemical stake by 0.7%, purchasing 29,010 additional shares and bringing its holdings to 4.17 million shares, or 3.64% of the company. Institutional investors collectively own 83.65% of EMN.
• Eastman Chemical reported quarterly EPS of $1.97, surpassing the $1.82 consensus estimate, while revenue rose 9.9% year over year to $2.51 billion. The company declared a quarterly dividend of $0.84, equivalent to a 5.0% annualized yield.
• EMN shares opened at $66.83, below the analyst average price target of $79.17. Analyst sentiment is mixed, with six Buy ratings and eight Hold ratings, resulting in an overall “Hold” consensus.

State Street Corp raised its position in shares of Eastman Chemical Company (NYSE:EMN - Free Report) by 0.7% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 4,169,105 shares of the basic materials company's stock after purchasing an additional 29,010 shares during the quarter. State Street Corp owned 3.64% of Eastman Chemical worth $282,741,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Continuum Advisory LLC bought a new stake in shares of Eastman Chemical in the 2nd quarter worth $40,000. Altshuler Shaham Ltd boosted its position in shares of Eastman Chemical by 36.9% during the first quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company's stock valued at $41,000 after buying an additional 145 shares during the last quarter. Quantbot Technologies LP purchased a new stake in shares of Eastman Chemical during the second quarter valued at $44,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new stake in Eastman Chemical in the 2nd quarter worth about $46,000. Finally, First Bancorp Inc ME bought a new stake in Eastman Chemical in the 2nd quarter worth about $46,000. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.4%

Shares of EMN stock opened at $66.83 on Thursday. 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 stock has a market cap of $7.64 billion, a P/E ratio of 17.40, a P/E/G ratio of 0.83 and a beta of 1.07. The company has a 50 day simple moving average of $70.47 and a two-hundred day simple moving average of $71.38.

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 (EPS) for the quarter, beating analysts' consensus estimates of $1.82 by $0.15. The firm 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%. During the same quarter in the previous year, the firm posted $1.60 EPS. The company'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. On average, research analysts expect that Eastman Chemical Company will post 6.48 earnings per share for the current year.

Eastman Chemical Dividend Announcement

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 is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 5.0%. Eastman Chemical's dividend payout ratio is presently 87.50%.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on EMN shares. Weiss Ratings restated a "hold (c)" rating on shares of Eastman Chemical in a research note on Thursday, August 13th. Wall Street Zen downgraded shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Saturday, September 12th. KeyCorp assumed coverage on shares of Eastman Chemical in a report on Thursday, September 10th. They issued a "sector weight" rating on the stock. Morgan Stanley cut their target price on shares of Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating for the company in a research report on Thursday, July 2nd. Finally, UBS Group boosted their target price on shares of Eastman Chemical from $89.00 to $92.00 and gave the company a "buy" rating in a research note on Monday, August 3rd. Six analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, Eastman Chemical presently has an average rating of "Hold" and an average price target of $79.17.

Eastman Chemical Profile

Eastman Chemical Company NYSE: EMN is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.

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