Man Group plc Buys Shares of 81,674 Eastman Chemical Company $EMN

Man Group plc acquired a new position in shares of Eastman Chemical Company (NYSE:EMN) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 81,674 shares of the basic materials company’s stock, valued at approximately $5,471,000.

Several other large investors have also recently modified their holdings of the business. Lido Advisors LLC raised its stake in Eastman Chemical by 0.6% during the fourth quarter. Lido Advisors LLC now owns 20,313 shares of the basic materials company’s stock worth $1,297,000 after buying an additional 125 shares during the last quarter. Altshuler Shaham Ltd boosted its holdings in Eastman Chemical by 36.9% during the 1st quarter. Altshuler Shaham Ltd now owns 538 shares of the basic materials company’s stock worth $41,000 after acquiring an additional 145 shares during the last quarter. Generali Asset Management SPA SGR grew its holdings in shares of Eastman Chemical by 9.6% in the fourth quarter. Generali Asset Management SPA SGR now owns 1,700 shares of the basic materials company’s stock valued at $109,000 after acquiring an additional 149 shares in the last quarter. UMB Bank n.a. increased its holdings in Eastman Chemical by 6.2% during the fourth quarter. UMB Bank n.a. now owns 2,571 shares of the basic materials company’s stock worth $164,000 after buying an additional 150 shares during the last quarter. Finally, D.A. Davidson & CO. raised its stake in shares of Eastman Chemical by 0.7% in the second quarter. D.A. Davidson & CO. now owns 20,743 shares of the basic materials company’s stock valued at $1,389,000 after buying an additional 153 shares during the period. Institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a research note on Thursday, July 2nd. Royal Bank Of Canada boosted their target price on Eastman Chemical from $69.00 to $74.00 and gave the company a “sector perform” rating in a research note on Wednesday, August 5th. UBS Group increased their price target on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Citigroup reduced their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating for the company in a research report on Monday, August 3rd. Finally, JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research report on Monday, May 4th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $79.17.

Eastman Chemical Trading Up 0.7%

EMN opened at $73.19 on Friday. Eastman Chemical Company has a 52 week low of $56.11 and a 52 week high of $83.47. 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 company has a market capitalization of $8.37 billion, a P/E ratio of 19.06, a PEG ratio of 0.90 and a beta of 1.06. The stock’s fifty day moving average is $70.52 and its two-hundred day moving average is $72.55.

Eastman Chemical (NYSE:EMN) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, beating the consensus estimate of $1.82 by $0.15. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The company had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $1.60 earnings per share. Eastman Chemical’s revenue was up 9.9% compared to the same quarter last year. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Analysts forecast that Eastman Chemical Company will post 6.5 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Investors of record on Tuesday, September 15th will be given a dividend of $0.84 per share. The ex-dividend date is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.6%. Eastman Chemical’s payout ratio is presently 87.50%.

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.