VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.94 Million in Eastman Chemical Company $EMN

Key Points

• Virginia Retirement Systems purchased 29,000 Eastman Chemical shares worth approximately $1.94 million in the second quarter. Institutional investors collectively own 83.65% of the company.
• Eastman Chemical’s latest quarter beat expectations, with EPS of $1.97 versus $1.82 expected and revenue of $2.51 billion, up 9.9% year over year.
• Analyst sentiment remains cautious, with an average “Hold” rating and a $79.17 price target. The company also declared a quarterly dividend of $0.84 per share, representing a 4.9% annualized yield.

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new stake in Eastman Chemical Company (NYSE:EMN - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 29,000 shares of the basic materials company's stock, valued at approximately $1,942,000.

A number of other hedge funds also recently bought and sold shares of EMN. Lido Advisors LLC grew its stake in shares of Eastman Chemical by 0.6% in the 4th quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company's stock worth $1,297,000 after buying an additional 125 shares in the last quarter. Altshuler Shaham Ltd raised its position in shares of Eastman Chemical by 36.9% during the 1st 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 in the last quarter. UMB Bank n.a. lifted its holdings in shares of Eastman Chemical by 6.2% in the 4th quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company's stock valued at $164,000 after acquiring an additional 150 shares during the last quarter. D.A. Davidson & CO. lifted its holdings in shares of Eastman Chemical by 0.7% in the 2nd quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company's stock valued at $1,389,000 after acquiring an additional 153 shares during the last quarter. Finally, Jacobi Capital Management LLC grew its position in Eastman Chemical by 3.2% in the fourth quarter. Jacobi Capital Management LLC now owns 4,982 shares of the basic materials company's stock worth $318,000 after acquiring an additional 153 shares in the last quarter. Hedge funds and other institutional investors own 83.65% of the company's stock.

Key Eastman Chemical News

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

• Positive Sentiment: KeyCorp’s estimates point to potential longer-term earnings growth, forecasting EPS of $6.70 in fiscal 2027 and $7.90 in fiscal 2028, up from its $6.30 fiscal 2026 estimate. This suggests some improvement in profitability over the longer term.
• Neutral Sentiment: Analysts broadly maintain a cautious view: Eastman Chemical received an average recommendation of “Hold,” while KeyCorp reiterated a “Sector Weight” rating. These ratings indicate limited conviction that the stock will materially outperform the broader market. Eastman Chemical Receives Average Hold Recommendation
• Negative Sentiment: Wall Street Zen downgraded EMN to “Hold,” adding to the cautious analyst sentiment and potentially reducing near-term investor demand. Eastman Chemical Downgraded to Hold by Wall Street Zen
• Negative Sentiment: KeyCorp projects third-quarter 2026 EPS of $1.94 and fourth-quarter EPS of $1.30. Its fiscal 2026 forecast of $6.30 is below the broader consensus of approximately $6.48-$6.50, signaling expectations for weaker near-term earnings than the market currently anticipates.

Eastman Chemical Stock Down 0.5%

Shares of NYSE:EMN opened at $68.05 on Friday. Eastman Chemical Company has a 1 year low of $56.11 and a 1 year high of $83.47. The business has a 50 day simple moving average of $70.75 and a two-hundred day simple moving average of $71.90. The firm has a market capitalization of $7.78 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 0.84 and a beta of 1.07. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, topping the consensus estimate of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the prior year, the business posted $1.60 earnings per share. The company'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. On average, equities analysts predict that Eastman Chemical Company will post 6.48 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be paid 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 4.9%. Eastman Chemical's dividend payout ratio (DPR) is presently 87.50%.

Analyst Ratings Changes

EMN has been the topic of a number of recent research reports. Citigroup decreased their price objective on Eastman Chemical from $85.00 to $81.00 and set a "buy" rating on the stock in a research report on Monday, August 3rd. Morgan Stanley cut their target price on Eastman Chemical from $83.00 to $79.00 and set an "overweight" rating on the stock in a research report on Thursday, July 2nd. Deutsche Bank Aktiengesellschaft restated a "hold" rating and set a $74.00 price target on shares of Eastman Chemical in a report on Monday, August 3rd. 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. Finally, Weiss Ratings reiterated a "hold (c)" rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Six analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Eastman Chemical has an average rating of "Hold" and an average target price of $79.17.

Eastman Chemical Company 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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