Renaissance Technologies LLC Has $1.89 Million Stake in Eastman Chemical Company $EMN

Renaissance Technologies LLC lowered its position in Eastman Chemical Company (NYSE:EMN) by 90.4% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 24,740 shares of the basic materials company’s stock after selling 232,700 shares during the quarter. Renaissance Technologies LLC’s holdings in Eastman Chemical were worth $1,888,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of EMN. MUFG Securities EMEA plc bought a new stake in shares of Eastman Chemical in the 2nd quarter valued at about $25,000. Altshuler Shaham Ltd acquired a new stake in Eastman Chemical in the 4th quarter valued at about $25,000. Garton & Associates Financial Advisors LLC bought a new position in Eastman Chemical during the fourth quarter worth about $27,000. Los Angeles Capital Management LLC bought a new position in Eastman Chemical during the fourth quarter worth about $27,000. Finally, McMillan Office Inc. acquired a new position in Eastman Chemical during the fourth quarter worth approximately $29,000. Institutional investors own 83.65% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho set a $85.00 price objective 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. Wall Street Zen raised Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 price objective on shares of Eastman Chemical in a research report on Thursday, July 16th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eastman Chemical in a report on Monday, May 18th. Seven investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $79.17.

Eastman Chemical Stock Performance

Shares of NYSE EMN opened at $74.73 on Wednesday. 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 $8.55 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 0.91 and a beta of 1.06. The stock’s fifty day moving average price is $70.43 and its two-hundred day moving average price is $72.42. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47.

Eastman Chemical (NYSE:EMN) last posted its earnings results on Thursday, July 30th. The basic materials company reported $1.97 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $2.40 billion. During the same quarter last year, the firm earned $1.60 earnings per share. 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. On average, equities analysts forecast that Eastman Chemical Company will post 6.43 EPS for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be issued 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 4.5%. Eastman Chemical’s payout ratio is currently 87.50%.

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.