VIRGINIA RETIREMENT SYSTEMS ET Al Makes New Investment in Eastman Chemical Company $EMN

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Eastman Chemical Company (NYSE:EMN) during the second quarter, HoldingsChannel reports. The institutional investor bought 29,000 shares of the basic materials company’s stock, valued at approximately $1,942,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. BlackRock Inc. bought a new position in Eastman Chemical in the second quarter worth approximately $1,134,421,000. California State Teachers Retirement System raised its position in Eastman Chemical by 6,459.7% during the 2nd quarter. California State Teachers Retirement System now owns 8,871,367 shares of the basic materials company’s stock valued at $594,204,000 after purchasing an additional 8,736,126 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of Eastman Chemical by 3,448.7% in the 4th quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after buying an additional 1,648,054 shares during the period. Norges Bank purchased a new stake in shares of Eastman Chemical in the 4th quarter worth $95,621,000. Finally, Legal & General Group Plc bought a new position in shares of Eastman Chemical during the 2nd quarter worth $87,583,000. Institutional investors own 83.65% of the company’s stock.

Key Stories Impacting Eastman Chemical

Here are the key news stories impacting Eastman Chemical this week:

• Positive Sentiment: KeyCorp’s estimates point to potential longer-term earnings growth, forecasting EPS of $6.70 in fiscal 2027 and $7.90 in fiscal 2028, up from its $6.30 fiscal 2026 estimate. This suggests some improvement in profitability over the longer term.
• Neutral Sentiment: Analysts broadly maintain a cautious view: Eastman Chemical received an average recommendation of “Hold,” while KeyCorp reiterated a “Sector Weight” rating. These ratings indicate limited conviction that the stock will materially outperform the broader market. Eastman Chemical Receives Average Hold Recommendation
• Negative Sentiment: Wall Street Zen downgraded EMN to “Hold,” adding to the cautious analyst sentiment and potentially reducing near-term investor demand. Eastman Chemical Downgraded to Hold by Wall Street Zen
• Negative Sentiment: KeyCorp projects third-quarter 2026 EPS of $1.94 and fourth-quarter EPS of $1.30. Its fiscal 2026 forecast of $6.30 is below the broader consensus of approximately $6.48-$6.50, signaling expectations for weaker near-term earnings than the market currently anticipates.

Eastman Chemical Trading Down 0.5%

EMN opened at $68.05 on Friday. The company has a current ratio of 1.50, a quick ratio of 0.76 and a debt-to-equity ratio of 0.72. The firm has a market cap of $7.78 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 0.84 and a beta of 1.07. Eastman Chemical Company has a 12 month low of $56.11 and a 12 month high of $83.47. The stock has a fifty day moving average price of $70.75 and a 200-day moving average price of $71.90.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 earnings per share 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 company had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the company earned $1.60 earnings per share. The firm’s revenue for the quarter 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, equities research analysts anticipate that Eastman Chemical Company will post 6.48 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The company 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 4.9%. The ex-dividend date is Tuesday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is currently 87.50%.

Analysts Set New Price Targets

Several equities analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $74.00 price target on shares of Eastman Chemical in a research note on Monday, August 3rd. The Goldman Sachs Group reiterated a “neutral” rating and set a $75.00 target price on shares of Eastman Chemical in a report on Thursday, July 16th. Royal Bank Of Canada raised their target price on shares of Eastman Chemical from $69.00 to $74.00 and gave the company a “sector perform” rating in a research report on Wednesday, August 5th. Wall Street Zen lowered shares of Eastman Chemical from a “buy” rating to a “hold” rating in a report on Saturday. Finally, Citigroup lowered 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. Six analysts have rated the stock with a Buy rating and eight have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $79.17.

Eastman Chemical Profile

Eastman Chemical Company (NYSE: EMN) is a global specialty materials company that develops and manufactures products used in transportation, building and construction, consumer goods, packaging, personal care, and other markets. The company serves customers through a portfolio of specialty polymers, additives, advanced materials, chemical intermediates, and fibers.

Its products include Tritan copolyester used in durable consumer and medical applications, Saflex interlayers for laminated glass, cellulose esters for coatings and plastics, and specialty additives used in coatings, adhesives, lubricants, and personal care products.