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

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Eastman Chemical Company (NYSE:EMN) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 211,019 shares of the basic materials company’s stock, valued at approximately $14,134,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.18% of Eastman Chemical as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in EMN. Brighton Jones LLC acquired a new position in Eastman Chemical during the fourth quarter worth $202,000. Integrated Wealth Concepts LLC increased its stake in Eastman Chemical by 185.6% in the 1st quarter. Integrated Wealth Concepts LLC now owns 6,686 shares of the basic materials company’s stock valued at $589,000 after buying an additional 4,345 shares during the last quarter. Millennium Management LLC increased its stake in Eastman Chemical by 69.2% in the 1st quarter. Millennium Management LLC now owns 194,052 shares of the basic materials company’s stock valued at $17,098,000 after buying an additional 79,376 shares during the last quarter. NewEdge Advisors LLC lifted its position in Eastman Chemical by 2.6% during the 1st quarter. NewEdge Advisors LLC now owns 7,310 shares of the basic materials company’s stock worth $644,000 after buying an additional 183 shares in the last quarter. Finally, United Services Automobile Association acquired a new position in shares of Eastman Chemical during the 1st quarter worth about $252,000. 83.65% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on EMN. Weiss Ratings restated a “hold (c)” rating on shares of Eastman Chemical in a report on Thursday, August 13th. Morgan Stanley reduced their price target on Eastman Chemical from $83.00 to $79.00 and set an “overweight” rating for the company in a research report on Thursday, July 2nd. JPMorgan Chase & Co. raised their price target on Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a research note on Monday, May 4th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $75.00 price target on shares of Eastman Chemical in a research report on Thursday, July 16th. Finally, Wall Street Zen upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, August 1st. Seven investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $79.17.

Eastman Chemical Stock Performance

Shares of EMN opened at $71.97 on Wednesday. The firm has a 50-day moving average of $70.49 and a 200-day moving average of $72.61. Eastman Chemical Company has a one year low of $56.11 and a one year high of $83.47. The company has a market cap of $8.23 billion, a PE ratio of 18.74, a price-to-earnings-growth ratio of 0.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.72, a current ratio of 1.50 and a quick ratio of 0.76.

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

Eastman Chemical Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 7th. Shareholders of record on Tuesday, September 15th will be given a dividend of $0.84 per share. This represents a $3.36 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend is Tuesday, September 15th. Eastman Chemical’s payout ratio is 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.