Legal & General Group Plc Acquires New Position in Eastman Chemical Company $EMN

Legal & General Group Plc acquired a new position in shares of Eastman Chemical Company (NYSE:EMN) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 1,307,605 shares of the basic materials company’s stock, valued at approximately $87,583,000.

A number of other large investors have also recently bought and sold shares of EMN. BlackRock Inc. acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth approximately $1,134,421,000. State Street Corp grew its stake 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 worth $363,314,000 after buying an additional 1,112,391 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in Eastman Chemical by 7.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after buying an additional 338,914 shares during the last quarter. Franklin Resources Inc. increased its position in 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 worth $237,637,000 after buying an additional 20,634 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its stake in Eastman Chemical by 39.4% in 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. Institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. The Goldman Sachs Group reissued a “neutral” rating and set a $75.00 price target on shares of Eastman Chemical in a report on Thursday, July 16th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a research report on Thursday, August 13th. Mizuho set a $85.00 target price on shares of Eastman Chemical in a research note on Friday, May 1st. Morgan Stanley decreased their target price on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. Finally, UBS Group lifted their price target on Eastman Chemical from $89.00 to $92.00 and gave the company a “buy” rating in a report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $79.17.

Eastman Chemical Price Performance

Shares of NYSE EMN opened at $72.73 on Friday. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The firm’s 50-day simple moving average is $70.51 and its 200 day simple moving average is $72.55. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72. The stock has a market cap of $8.32 billion, a P/E ratio of 18.94, a P/E/G ratio of 0.89 and a beta of 1.06.

Eastman Chemical (NYSE:EMN) last posted its quarterly earnings data 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 business 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 quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities analysts expect that Eastman Chemical Company will post 6.5 EPS for the current year.

Eastman Chemical Announces Dividend

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 paid a $0.84 dividend. This represents a $3.36 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical’s dividend payout ratio is currently 87.50%.

Eastman Chemical Profile

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.