Letko Brosseau & Associates Inc. Buys 61,950 Shares of Eastman Chemical Company $EMN

Letko Brosseau & Associates Inc. raised its stake in shares of Eastman Chemical Company (NYSE:EMN) by 5.5% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,194,421 shares of the basic materials company’s stock after buying an additional 61,950 shares during the period. Letko Brosseau & Associates Inc. owned 1.05% of Eastman Chemical worth $76,240,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Fox Run Management L.L.C. acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $582,000. Cerity Partners LLC grew its position in shares of Eastman Chemical by 8.0% in the fourth quarter. Cerity Partners LLC now owns 257,042 shares of the basic materials company’s stock valued at $16,407,000 after purchasing an additional 18,934 shares during the last quarter. Franklin Resources Inc. grew its position 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. Syon Capital LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $251,000. Finally, Los Angeles Capital Management LLC acquired a new stake in shares of Eastman Chemical in the fourth quarter valued at about $27,000. 83.65% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Stock Up 1.7%

EMN stock opened at $72.86 on Wednesday. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The company has a market cap of $8.33 billion, a PE ratio of 21.12, a price-to-earnings-growth ratio of 0.91 and a beta of 1.04. The business’s 50-day simple moving average is $73.57 and its 200 day simple moving average is $70.49. The company has a quick ratio of 0.71, a current ratio of 1.47 and a debt-to-equity ratio of 0.73.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The business had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.17 billion. During the same period last year, the business earned $1.91 earnings per share. The firm’s revenue for the quarter 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. On average, research analysts anticipate that Eastman Chemical Company will post 6.36 earnings per share for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, June 15th. Eastman Chemical’s payout ratio is presently 97.39%.

Analyst Upgrades and Downgrades

EMN has been the topic of several research analyst reports. UBS Group raised their price target on Eastman Chemical from $80.00 to $88.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Royal Bank Of Canada raised their price target on Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Morgan Stanley raised their price target on Eastman Chemical from $73.00 to $83.00 and gave the company an “overweight” rating in a research report on Tuesday, May 5th. Mizuho set a $85.00 price target on Eastman Chemical in a research report on Friday, May 1st. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $82.00 price target on shares of Eastman Chemical in a research report on Tuesday, May 5th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and an average target price 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.