Corient Private Wealth LP Purchases Shares of 50,891 Eastman Chemical Company $EMN

Corient Private Wealth LP acquired a new position in Eastman Chemical Company (NYSE:EMN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 50,891 shares of the basic materials company’s stock, valued at approximately $3,408,000.

Several other institutional investors have also bought and sold shares of the stock. BlackRock Inc. purchased a new stake in Eastman Chemical in the 2nd quarter valued at $1,134,421,000. HighTower Advisors LLC raised its holdings 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 purchasing an additional 1,648,054 shares during the last quarter. Norges Bank bought a new position in shares of Eastman Chemical during the fourth quarter valued at about $95,621,000. Legal & General Group Plc purchased a new position in Eastman Chemical during the second quarter worth about $87,583,000. Finally, Bank of New York Mellon Corp purchased a new stake in Eastman Chemical in the 2nd quarter valued at about $81,645,000. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Trading Down 3.3%

Shares of Eastman Chemical stock opened at $70.05 on Wednesday. The stock has a market capitalization of $8.01 billion, a P/E ratio of 18.24, a P/E/G ratio of 0.89 and a beta of 1.07. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. The stock’s 50-day simple moving average is $70.55 and its 200 day simple moving average is $72.38.

Eastman Chemical (NYSE:EMN) last posted its earnings results 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 firm had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The company’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the company earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, research analysts anticipate that Eastman Chemical Company will post 6.5 EPS for the current year.

Eastman Chemical Dividend Announcement

The business 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 $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.8%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is presently 87.50%.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on EMN. Deutsche Bank Aktiengesellschaft reaffirmed a “hold” rating and issued a $74.00 target price on shares of Eastman Chemical in a report on Monday, August 3rd. Royal Bank Of Canada raised their target price on Eastman Chemical from $69.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. The Goldman Sachs Group reissued a “neutral” rating and issued a $75.00 price target on shares of Eastman Chemical in a report on Thursday, July 16th. Morgan Stanley decreased their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Finally, Citigroup dropped their target price on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.17.

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.