OVERSEA CHINESE BANKING Corp Ltd Buys Shares of 11,989 Eastman Chemical Company $EMN

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Eastman Chemical Company (NYSE:EMN) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 11,989 shares of the basic materials company’s stock, valued at approximately $803,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. MUFG Securities EMEA plc purchased a new position in shares of Eastman Chemical in the second quarter worth approximately $25,000. Altshuler Shaham Ltd purchased a new stake in Eastman Chemical during the fourth quarter valued at approximately $25,000. Garton & Associates Financial Advisors LLC purchased a new stake in Eastman Chemical during the fourth quarter valued at approximately $27,000. Los Angeles Capital Management LLC bought a new position in Eastman Chemical in the fourth quarter worth approximately $27,000. Finally, McMillan Office Inc. bought a new position in Eastman Chemical in the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Wall Street Analyst Weigh In

EMN has been the subject of a number of recent research reports. Citigroup cut their price objective 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. UBS Group raised their target price on Eastman Chemical from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and set a $74.00 target price on shares of Eastman Chemical in a research report on Monday, August 3rd. Wall Street Zen raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Finally, Royal Bank Of Canada upped their price target on Eastman Chemical from $69.00 to $74.00 and gave the stock a “sector perform” rating in a research report on Wednesday, August 5th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus price target of $79.17.

Eastman Chemical Stock Performance

EMN opened at $74.20 on Friday. The company has a 50 day simple moving average of $70.56 and a two-hundred day simple moving average of $72.67. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76. The firm has a market cap of $8.49 billion, a P/E ratio of 19.32, a PEG ratio of 0.90 and a beta of 1.06. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, July 30th. The basic materials company reported $1.97 EPS 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 firm had revenue of $2.51 billion for the quarter, compared to the consensus estimate of $2.40 billion. During the same period last year, the firm earned $1.60 EPS. The company’s revenue was up 9.9% on a year-over-year basis. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Equities analysts forecast that Eastman Chemical Company will post 6.5 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be issued a dividend of $0.84 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a $3.36 dividend on an annualized basis and a yield of 4.5%. Eastman Chemical’s dividend payout ratio (DPR) is currently 87.50%.

Eastman Chemical Company 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.