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

OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of Eastman Chemical Company (NYSE:EMN) during the 2nd quarter, HoldingsChannel.com reports. The firm acquired 11,989 shares of the basic materials company’s stock, valued at approximately $803,000.

Several other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. bought a new position in shares of Eastman Chemical during the second quarter worth $1,134,421,000. HighTower Advisors LLC increased its holdings in 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 valued at $108,246,000 after acquiring an additional 1,648,054 shares during the last quarter. Norges Bank bought a new stake in Eastman Chemical in the 4th quarter valued at $95,621,000. Bank of New York Mellon Corp purchased a new stake in Eastman Chemical in the 2nd quarter worth $81,645,000. Finally, State Street Corp boosted its holdings in shares of 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 valued at $363,314,000 after purchasing an additional 1,112,391 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Wall Street Zen upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Mizuho set a $85.00 target price on Eastman Chemical in a research report on Friday, May 1st. Royal Bank Of Canada increased their price target 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. The Goldman Sachs Group restated a “neutral” rating and set a $75.00 price target on shares of Eastman Chemical in a report on Thursday, July 16th. Finally, UBS Group lifted their price objective on Eastman Chemical from $89.00 to $92.00 and gave the stock a “buy” rating in a research note on Monday, August 3rd. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $79.17.

Eastman Chemical Stock Performance

Shares of NYSE:EMN opened at $74.20 on Friday. The firm has a fifty day simple moving average of $70.56 and a two-hundred day simple moving average of $72.67. 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 stock has a market capitalization 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 (NYSE:EMN) last announced its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share (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 analysts’ expectations of $2.40 billion. During the same period in the prior year, the company earned $1.60 EPS. The business’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. On average, analysts expect that Eastman Chemical Company will post 6.5 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders 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 4.5%. Eastman Chemical’s dividend payout ratio is 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.