Fifth Third Bancorp boosted its holdings in shares of Eastman Chemical Company (NYSE:EMN – Free Report) by 224.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 78,317 shares of the basic materials company’s stock after buying an additional 54,204 shares during the quarter. Fifth Third Bancorp’s holdings in Eastman Chemical were worth $5,977,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. MUFG Securities EMEA plc purchased a new stake in shares of Eastman Chemical during the 2nd quarter worth $25,000. Altshuler Shaham Ltd purchased a new position in Eastman Chemical in the fourth quarter valued at about $25,000. Brown Lisle Cummings Inc. raised its holdings in Eastman Chemical by 70.0% in the fourth quarter. Brown Lisle Cummings Inc. now owns 425 shares of the basic materials company’s stock worth $27,000 after purchasing an additional 175 shares in the last quarter. Garton & Associates Financial Advisors LLC bought a new position in Eastman Chemical in the fourth quarter worth about $27,000. Finally, Los Angeles Capital Management LLC purchased a new stake in shares of Eastman Chemical during the fourth quarter valued at about $27,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently weighed in on the stock. Royal Bank Of Canada raised their price target on shares of Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a report on Tuesday, May 5th. Wells Fargo & Company increased their target price on shares of Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. JPMorgan Chase & Co. raised their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Mizuho set a $85.00 price target on shares of Eastman Chemical in a report on Friday, May 1st. Finally, Morgan Stanley reduced their price target 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. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.50.
Eastman Chemical Stock Up 2.1%
EMN stock opened at $69.27 on Friday. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The firm’s fifty day simple moving average is $71.58 and its 200-day simple moving average is $71.98. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $83.47. The company has a market capitalization of $7.92 billion, a P/E ratio of 20.08, a price-to-earnings-growth ratio of 0.87 and a beta of 1.07.
Eastman Chemical (NYSE:EMN – Get Free Report) last posted its earnings results on Thursday, April 30th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The company had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. During the same period in the previous year, the firm posted $1.91 earnings per share. The firm’s quarterly revenue was down 4.9% on a year-over-year basis. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. As a group, equities research analysts forecast that Eastman Chemical Company will post 6.3 earnings per share for the current year.
Eastman Chemical Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were issued a $0.84 dividend. This represents a $3.36 annualized dividend and a dividend yield of 4.9%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical’s payout ratio is 97.39%.
About Eastman Chemical
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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