Freestone Grove Partners LP Buys Shares of 14,240 Eastman Chemical Company $EMN

Freestone Grove Partners LP purchased a new stake in Eastman Chemical Company (NYSE:EMN) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 14,240 shares of the basic materials company’s stock, valued at approximately $954,000.

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

Eastman Chemical Trading Up 0.7%

NYSE EMN opened at $73.19 on Friday. The firm has a market cap of $8.37 billion, a P/E ratio of 19.06, a P/E/G ratio of 0.90 and a beta of 1.06. 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 stock’s 50-day moving average is $70.52 and its 200-day moving average is $72.55. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data 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 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 analyst estimates of $2.40 billion. During the same period in the previous year, the firm earned $1.60 EPS. Eastman Chemical’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. Sell-side analysts anticipate that Eastman Chemical Company will post 6.5 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be paid a $0.84 dividend. 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 4.6%. Eastman Chemical’s payout ratio is presently 87.50%.

Analyst Ratings Changes

Several research firms have recently issued reports on EMN. Wall Street Zen upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, August 1st. Citigroup reduced their price objective on shares of Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Deutsche Bank Aktiengesellschaft restated a “hold” rating and set a $74.00 price objective on shares of Eastman Chemical in a report on Monday, August 3rd. JPMorgan Chase & Co. upped their target price on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. Finally, UBS Group increased their target price on shares of Eastman Chemical from $89.00 to $92.00 and gave the stock a “buy” rating in a report on Monday, August 3rd. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $79.17.

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.