Legal & General Group Plc Purchases 43,429 Shares of Eastman Chemical Company $EMN

Legal & General Group Plc raised its position in shares of Eastman Chemical Company (NYSE:EMN) by 3.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,169,318 shares of the basic materials company’s stock after acquiring an additional 43,429 shares during the period. Legal & General Group Plc owned approximately 1.03% of Eastman Chemical worth $74,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. State Street Corp boosted its holdings in Eastman Chemical by 24.3% during the third quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock valued at $363,314,000 after acquiring an additional 1,112,391 shares during the period. Dimensional Fund Advisors LP boosted its holdings in Eastman Chemical by 14.4% during the third quarter. Dimensional Fund Advisors LP now owns 4,052,656 shares of the basic materials company’s stock valued at $255,515,000 after acquiring an additional 509,290 shares during the period. Bank of America Corp DE lifted its stake in shares of Eastman Chemical by 6.1% in the second quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock valued at $184,909,000 after buying an additional 143,323 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of Eastman Chemical by 97.0% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,859,998 shares of the basic materials company’s stock valued at $119,672,000 after buying an additional 916,023 shares during the period. Finally, HighTower Advisors LLC lifted its stake in shares of Eastman Chemical by 3,448.7% in the fourth quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock valued at $108,246,000 after buying an additional 1,648,054 shares during the period. 83.65% of the stock is currently owned by institutional investors.

Eastman Chemical Price Performance

EMN opened at $75.89 on Friday. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47. 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 company’s 50 day simple moving average is $73.00 and its 200-day simple moving average is $69.74. The stock has a market capitalization of $8.68 billion, a P/E ratio of 22.00, a price-to-earnings-growth ratio of 0.97 and a beta of 1.04.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, beating the consensus estimate of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The business had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the prior year, the firm earned $1.91 earnings per share. Eastman Chemical’s revenue was down 4.9% compared to the same quarter last year. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Sell-side analysts anticipate that Eastman Chemical Company will post 6.36 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th will be paid a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, June 15th. Eastman Chemical’s dividend payout ratio is 97.39%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. Bank of America increased their target price on shares of Eastman Chemical from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, February 2nd. Evercore set a $75.00 target price on shares of Eastman Chemical in a research note on Wednesday, February 18th. Mizuho set a $85.00 target price on shares of Eastman Chemical in a research note on Friday, May 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research note on Monday, May 18th. Finally, JPMorgan Chase & Co. increased 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. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $80.25.

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.