Kornitzer Capital Management Inc. KS Increases Position in Eastman Chemical Company $EMN

Kornitzer Capital Management Inc. KS lifted its stake in Eastman Chemical Company (NYSE:EMN) by 4.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 219,448 shares of the basic materials company’s stock after purchasing an additional 8,896 shares during the period. Kornitzer Capital Management Inc. KS owned approximately 0.19% of Eastman Chemical worth $16,748,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. QSM Asset Management Ltd boosted its position in shares of Eastman Chemical by 27.0% in the 4th quarter. QSM Asset Management Ltd now owns 120,258 shares of the basic materials company’s stock worth $7,676,000 after buying an additional 25,550 shares in the last quarter. Invenomic Capital Management LP grew its stake in Eastman Chemical by 119.9% in the 3rd quarter. Invenomic Capital Management LP now owns 131,690 shares of the basic materials company’s stock valued at $8,303,000 after acquiring an additional 71,794 shares during the last quarter. Numerai GP LLC increased its holdings in Eastman Chemical by 601.2% during the 3rd quarter. Numerai GP LLC now owns 37,551 shares of the basic materials company’s stock valued at $2,368,000 after acquiring an additional 32,196 shares in the last quarter. Horizon Investments LLC increased its holdings in Eastman Chemical by 3,022.6% during the 4th quarter. Horizon Investments LLC now owns 100,078 shares of the basic materials company’s stock valued at $6,388,000 after acquiring an additional 96,873 shares in the last quarter. Finally, State of Alaska Department of Revenue raised its position in Eastman Chemical by 84.2% during the fourth quarter. State of Alaska Department of Revenue now owns 100,129 shares of the basic materials company’s stock worth $6,390,000 after acquiring an additional 45,774 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

Analyst Upgrades and Downgrades

EMN has been the topic of several recent research reports. JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Weiss Ratings restated a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Mizuho set a $85.00 target price on Eastman Chemical in a research note on Friday, May 1st. Wells Fargo & Company increased their target price on Eastman Chemical from $70.00 to $80.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. Finally, UBS Group raised their price target on Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. Seven investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. Based on data from MarketBeat, Eastman Chemical has a consensus rating of “Moderate Buy” and an average target price of $79.67.

Eastman Chemical Trading Up 0.5%

NYSE:EMN traded up $0.34 on Friday, reaching $67.56. The stock had a trading volume of 861,119 shares, compared to its average volume of 1,220,698. The company has a market cap of $7.72 billion, a price-to-earnings ratio of 19.58, a P/E/G ratio of 0.86 and a beta of 1.07. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.47 and a quick ratio of 0.71. The firm’s fifty day moving average is $72.15 and its two-hundred day moving average is $71.78. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47.

Eastman Chemical (NYSE:EMN) last issued its quarterly 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 business had revenue of $2.18 billion during the quarter, compared to the consensus estimate of $2.17 billion. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The company’s quarterly revenue was down 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.91 earnings per share. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Equities analysts expect that Eastman Chemical Company will post 6.3 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 8th. Shareholders of record on Monday, June 15th were paid a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date of this dividend was Monday, June 15th. Eastman Chemical’s dividend payout ratio is currently 97.39%.

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.