Eastman Chemical (NYSE:EMN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Eastman Chemical (NYSE:EMN) from a hold rating to a buy rating in a report published on Saturday.

EMN has been the topic of a number of other reports. The Goldman Sachs Group reissued a “neutral” rating and set a $75.00 price objective on shares of Eastman Chemical in a research report on Thursday, July 16th. UBS Group raised their target price on shares of Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Citigroup cut their target price on shares of Eastman Chemical from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Royal Bank Of Canada boosted their price target on shares of Eastman Chemical from $79.00 to $82.00 and gave the company a “sector perform” rating in a research report on Tuesday, May 5th. Finally, Mizuho set a $85.00 price target on shares of Eastman Chemical in a research note on Friday, May 1st. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $79.83.

Eastman Chemical Price Performance

Shares of EMN stock opened at $71.96 on Friday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 0.71 and a current ratio of 1.47. Eastman Chemical has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The firm has a market cap of $8.23 billion, a P/E ratio of 18.74, a P/E/G ratio of 0.90 and a beta of 1.06. The business’s 50 day moving average price is $70.67 and its 200-day moving average price is $72.20.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.53% and a net margin of 4.99%.The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter in the prior year, the company earned $1.60 earnings per share. The firm’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 research analysts anticipate that Eastman Chemical will post 6.3 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Investors of record on Monday, June 15th were paid a $0.84 dividend. This represents a $3.36 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical’s dividend payout ratio is presently 87.50%.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. HighTower Advisors LLC boosted its position in shares of Eastman Chemical by 3,448.7% in the 4th quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after purchasing an additional 1,648,054 shares in the last quarter. Norges Bank purchased a new stake in shares of Eastman Chemical in the 4th quarter worth approximately $95,621,000. State Street Corp increased its position in Eastman Chemical by 24.3% during the 3rd quarter. State Street Corp now owns 5,687,097 shares of the basic materials company’s stock valued at $363,314,000 after buying an additional 1,112,391 shares in the last quarter. Allspring Global Investments Holdings LLC raised its stake 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 valued at $196,552,000 after buying an additional 732,693 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in Eastman Chemical by 101.6% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,425,806 shares of the basic materials company’s stock valued at $91,009,000 after buying an additional 718,502 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

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.