Commerce Bank Makes New Investment in Eastman Chemical Company $EMN

Commerce Bank acquired a new position in Eastman Chemical Company (NYSE:EMN) during the second quarter, HoldingsChannel reports. The firm acquired 8,294 shares of the basic materials company’s stock, valued at approximately $556,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in Eastman Chemical during the 2nd quarter worth approximately $1,134,421,000. State Street Corp grew its stake in Eastman Chemical by 24.3% during the third 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. Dimensional Fund Advisors LP increased its position in shares of Eastman Chemical by 7.4% in the first quarter. Dimensional Fund Advisors LP now owns 4,936,789 shares of the basic materials company’s stock worth $376,747,000 after acquiring an additional 338,914 shares in the last quarter. Franklin Resources Inc. increased its position in shares of Eastman Chemical by 0.6% in the fourth quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock worth $237,637,000 after acquiring an additional 20,634 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake in shares of Eastman Chemical by 39.4% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,592,691 shares of the basic materials company’s stock valued at $196,552,000 after acquiring an additional 732,693 shares during the period. 83.65% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research analysts have commented on the company. UBS Group boosted 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. JPMorgan Chase & Co. raised their target price on Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Wells Fargo & Company boosted their price target on Eastman Chemical from $70.00 to $80.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $74.00 price target on shares of Eastman Chemical in a report on Monday, August 3rd. Finally, Mizuho set a $85.00 price objective on shares of Eastman Chemical in a research report on Friday, May 1st. Seven research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $79.17.

Eastman Chemical Price Performance

EMN stock opened at $72.73 on Friday. The stock’s 50 day moving average is $70.51 and its two-hundred day moving average is $72.55. Eastman Chemical Company has a 52-week low of $56.11 and a 52-week high of $83.47. The company has a market capitalization of $8.32 billion, a PE ratio of 18.94, a P/E/G ratio of 0.89 and a beta of 1.06. The company has a quick ratio of 0.76, a current ratio of 1.50 and a debt-to-equity ratio of 0.72.

Eastman Chemical (NYSE:EMN) last released its quarterly 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. The business had revenue of $2.51 billion during the quarter, compared to the consensus estimate of $2.40 billion. Eastman Chemical had a net margin of 4.99% and a return on equity of 9.46%. The business’s quarterly revenue was up 9.9% compared to the same quarter last year. During the same quarter last year, the company earned $1.60 earnings per share. Eastman Chemical has set its Q3 2026 guidance at 1.970-1.970 EPS. Analysts predict 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 issued a dividend of $0.84 per share. This represents a $3.36 annualized dividend and a yield of 4.6%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical’s dividend payout ratio (DPR) is currently 87.50%.

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.