Louisiana State Employees Retirement System Purchases New Position in Eastman Chemical Company $EMN

Louisiana State Employees Retirement System purchased a new stake in Eastman Chemical Company (NYSE:EMN) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 50,600 shares of the basic materials company’s stock, valued at approximately $3,862,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in EMN. Brighton Jones LLC purchased a new stake in Eastman Chemical during the fourth quarter worth $202,000. Integrated Wealth Concepts LLC increased its holdings in Eastman Chemical by 185.6% in the first quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock valued at $589,000 after buying an additional 4,345 shares in the last quarter. Millennium Management LLC raised its position in shares of Eastman Chemical by 69.2% in the first quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock worth $17,098,000 after acquiring an additional 79,376 shares during the period. NewEdge Advisors LLC raised its position in shares of Eastman Chemical by 2.6% in the first quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after acquiring an additional 183 shares during the period. Finally, United Services Automobile Association purchased a new stake in shares of Eastman Chemical during the 1st quarter worth about $252,000. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Stock Up 0.3%

EMN opened at $70.83 on Friday. The company has a market cap of $8.10 billion, a PE ratio of 20.53, a price-to-earnings-growth ratio of 0.90 and a beta of 1.04. Eastman Chemical Company has a twelve month low of $56.11 and a twelve month high of $83.47. The company has a 50-day moving average price of $73.04 and a 200 day moving average price of $71.48. 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 posted its quarterly earnings data on Thursday, April 30th. The basic materials company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.07 by $0.02. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. During the same period in the previous year, the firm posted $1.91 EPS. 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 expect that Eastman Chemical Company will post 6.36 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The company 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 $0.84 dividend. The ex-dividend date of this dividend is Monday, June 15th. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.7%. Eastman Chemical’s payout ratio is currently 97.39%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on EMN shares. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $82.00 price target on shares of Eastman Chemical in a research note on Tuesday, May 5th. Citigroup lowered their price target on Eastman Chemical from $88.00 to $85.00 and set a “buy” rating on the stock in a research report on Wednesday. Zacks Research raised Eastman Chemical from a “strong sell” rating to a “hold” rating in a report on Wednesday, March 4th. UBS Group upped their target price on Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research note on Thursday, April 9th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $80.00.

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.