17,794 Shares of Eastman Chemical Company $EMN Purchased by Canandaigua National Trust Co of Florida

Canandaigua National Trust Co of Florida acquired a new stake in Eastman Chemical Company (NYSE:EMN) in the third quarter, HoldingsChannel.com reports. The fund acquired 17,794 shares of the basic materials company’s stock, valued at approximately $1,154,000.

A number of other institutional investors have also bought and sold shares of the business. BlackRock Inc. acquired a new position in shares of Eastman Chemical during the 2nd quarter worth approximately $1,134,421,000. Dimensional Fund Advisors LP grew its position in shares of Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock valued at $376,747,000 after purchasing an additional 338,914 shares in the last quarter. State Street Corp increased its holdings in shares of Eastman Chemical by 0.7% in the second quarter. State Street Corp now owns 4,169,105 shares of the basic materials company’s stock valued at $282,741,000 after purchasing an additional 29,010 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Eastman Chemical by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock valued at $237,637,000 after purchasing an additional 20,634 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Eastman Chemical by 39.4% during the first quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock worth $196,552,000 after buying an additional 732,693 shares in the last quarter. 83.65% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Trading Down 1.4%

Shares of EMN stock traded down $0.88 during trading on Wednesday, hitting $63.23. 1,598,272 shares of the stock traded hands, compared to its average volume of 1,376,422. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The firm has a market capitalization of $7.23 billion, a P/E ratio of 16.47, a price-to-earnings-growth ratio of 0.80 and a beta of 1.06. The firm’s fifty day moving average price is $69.91 and its 200-day moving average price is $71.11. 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) last issued its quarterly earnings data 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. The company had revenue of $2.51 billion during the quarter, compared to analyst estimates of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The firm’s revenue for the quarter was up 9.9% compared to the same quarter last year. During the same period in the prior year, the business posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, research analysts forecast that Eastman Chemical Company will post 6.47 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm 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. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 5.3%. Eastman Chemical’s dividend payout ratio is currently 87.50%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley lowered their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Citigroup cut their target price on Eastman Chemical from $81.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, September 30th. Jefferies Financial Group reiterated a “buy” rating and set a $85.00 price target on shares of Eastman Chemical in a report on Friday, September 25th. Mizuho lowered their price target on shares of Eastman Chemical from $85.00 to $80.00 and set an “outperform” rating on the stock in a research report on Thursday, October 1st. Finally, The Goldman Sachs Group reissued a “neutral” rating and issued a $75.00 price objective on shares of Eastman Chemical in a report on Thursday, July 16th. Seven investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $77.69.

Eastman Chemical Company Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company headquartered in Kingsport, Tennessee. Founded in 1920 as a division of Eastman Kodak Company, Eastman became an independent public company in 1994. The company develops and manufactures materials used in products across the transportation, building and construction, consumer goods, medical, and personal care industries.

Eastman’s portfolio includes specialty plastics, coatings and adhesives, performance additives, advanced interlayers, films, plasticizers, fibers, and chemical intermediates.