Allspring Global Investments Holdings LLC Has $196.55 Million Holdings in Eastman Chemical Company $EMN

Allspring Global Investments Holdings LLC lifted its stake in shares of Eastman Chemical Company (NYSE:EMN) by 39.4% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 2,592,691 shares of the basic materials company’s stock after buying an additional 732,693 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Eastman Chemical were worth $196,552,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. HighTower Advisors LLC grew its holdings in Eastman Chemical by 3,448.7% in the fourth quarter. HighTower Advisors LLC now owns 1,695,842 shares of the basic materials company’s stock worth $108,246,000 after purchasing an additional 1,648,054 shares during the period. Norges Bank bought a new stake in Eastman Chemical in the 4th quarter valued at about $95,621,000. State Street Corp raised its stake in 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 worth $363,314,000 after buying an additional 1,112,391 shares during the period. Arrowstreet Capital Limited Partnership boosted its holdings in Eastman Chemical by 101.6% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,425,806 shares of the basic materials company’s stock worth $91,009,000 after acquiring an additional 718,502 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in Eastman Chemical in the fourth quarter worth approximately $39,827,000. Institutional investors own 83.65% of the company’s stock.

Eastman Chemical Stock Up 2.1%

EMN stock opened at $69.27 on Friday. The stock has a market cap of $7.92 billion, a P/E ratio of 20.08, a P/E/G ratio of 0.87 and a beta of 1.07. The company has a current ratio of 1.47, a quick ratio of 0.71 and a debt-to-equity ratio of 0.73. The stock’s fifty day simple moving average is $71.58 and its two-hundred day simple moving average is $71.98. Eastman Chemical Company has a 1-year low of $56.11 and a 1-year high of $83.47.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, April 30th. The basic materials company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.02. The company had revenue of $2.18 billion for the quarter, compared to analysts’ expectations of $2.17 billion. Eastman Chemical had a return on equity of 8.88% and a net margin of 4.62%.The business’s revenue for the quarter was down 4.9% compared to the same quarter last year. During the same period in the previous year, the business posted $1.91 EPS. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Analysts expect that Eastman Chemical Company will post 6.3 EPS for the current year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were given a $0.84 dividend. The ex-dividend date of this dividend was Monday, June 15th. This represents a $3.36 annualized dividend and a yield of 4.9%. Eastman Chemical’s payout ratio is currently 97.39%.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on EMN. Weiss Ratings restated a “hold (c)” rating on shares of Eastman Chemical in a report on Monday, May 18th. Mizuho set a $85.00 target price on Eastman Chemical in a report on Friday, May 1st. Deutsche Bank Aktiengesellschaft reissued a “hold” rating and issued a $82.00 price target on shares of Eastman Chemical in a research report on Tuesday, May 5th. Morgan Stanley lowered their price objective on shares of Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating on the stock in a report on Thursday, July 2nd. Finally, The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $75.00 price objective on shares of Eastman Chemical in a research note on Thursday. Seven analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat, Eastman Chemical currently has an average rating of “Moderate Buy” and a consensus price target of $80.50.

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.