Connor Clark & Lunn Investment Management Ltd. Purchases Shares of 211,019 Eastman Chemical Company $EMN

Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Eastman Chemical Company (NYSE:EMN) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 211,019 shares of the basic materials company’s stock, valued at approximately $14,134,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. PEAK6 LLC acquired a new position in shares of Eastman Chemical in the second quarter valued at $629,000. Compass Financial Management LLC acquired a new stake in shares of Eastman Chemical during the 2nd quarter worth about $63,000. Commerce Bank bought a new stake in shares of Eastman Chemical during the 2nd quarter worth about $556,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of Eastman Chemical during the 2nd quarter worth about $905,000. Finally, Quantbot Technologies LP acquired a new position in Eastman Chemical in the 2nd quarter valued at about $44,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Eastman Chemical Stock Performance

NYSE:EMN opened at $71.97 on Wednesday. The company has a market cap of $8.23 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 0.89 and a beta of 1.06. Eastman Chemical Company has a fifty-two week low of $56.11 and a fifty-two week high of $83.47. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.76 and a current ratio of 1.50. The stock has a fifty day moving average price of $70.49 and a 200-day moving average price of $72.61.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings results on Thursday, July 30th. The basic materials company reported $1.97 EPS for the quarter, topping analysts’ consensus estimates of $1.82 by $0.15. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.40 billion. Eastman Chemical had a return on equity of 9.46% and a net margin of 4.99%.Eastman Chemical’s revenue was up 9.9% on a year-over-year basis. During the same quarter last year, the business earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. As a group, equities analysts anticipate that Eastman Chemical Company will post 6.5 EPS for the current fiscal year.

Eastman Chemical Dividend Announcement

The company also recently announced 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. This represents a $3.36 annualized dividend and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is currently 87.50%.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on EMN. Mizuho set a $85.00 price target on shares of Eastman Chemical in a report on Friday, May 1st. Wall Street Zen upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a report on Saturday, August 1st. Wells Fargo & Company upped their target price on Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a research report on Monday, May 4th. Citigroup lowered their target price on Eastman Chemical from $85.00 to $81.00 and set a “buy” rating on the stock in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. lifted their price target on Eastman Chemical from $80.00 to $82.00 and gave the stock an “overweight” rating in a report on Monday, May 4th. Seven research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and an average target price of $79.17.

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.