HighTower Advisors LLC Boosts Stock Holdings in Eastman Chemical Company $EMN

HighTower Advisors LLC lifted its position in shares of Eastman Chemical Company (NYSE:EMN) by 2.4% in the 2nd quarter, Holdings Channel.com reports. The fund owned 1,024,817 shares of the basic materials company’s stock after buying an additional 24,337 shares during the quarter. HighTower Advisors LLC’s holdings in Eastman Chemical were worth $68,642,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in EMN. MUFG Securities EMEA plc bought a new position in Eastman Chemical in the 2nd quarter valued at approximately $25,000. Altshuler Shaham Ltd bought a new stake in shares of Eastman Chemical in the 4th quarter worth $25,000. Garton & Associates Financial Advisors LLC purchased a new position in shares of Eastman Chemical in the fourth quarter worth $27,000. Los Angeles Capital Management LLC bought a new position in shares of Eastman Chemical during the fourth quarter valued at $27,000. Finally, McMillan Office Inc. bought a new position in shares of Eastman Chemical during the fourth quarter valued at $29,000. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Down 0.1%

EMN stock opened at $71.15 on Tuesday. The company has a market cap of $8.14 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 0.87 and a beta of 1.07. 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 business’s 50-day moving average is $70.68 and its two-hundred day moving average is $72.14. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.82 by $0.15. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. During the same period in the previous year, the company posted $1.60 EPS. The business’s quarterly 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. As a group, analysts forecast that Eastman Chemical Company will post 6.5 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently announced 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. This represents a $3.36 annualized dividend and a yield of 4.7%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical’s payout ratio is 87.50%.

Analyst Upgrades and Downgrades

Several research firms recently commented on EMN. Morgan Stanley reduced their price objective on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a report on Thursday, July 2nd. Citigroup dropped their price target on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $74.00 price target on shares of Eastman Chemical in a research note on Monday, August 3rd. Wall Street Zen raised shares of Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, UBS Group increased their price objective on shares of Eastman Chemical from $89.00 to $92.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $79.17.

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.