Kornitzer Capital Management Inc. KS Boosts Holdings in Eastman Chemical Company $EMN

Kornitzer Capital Management Inc. KS grew its stake in shares of Eastman Chemical Company (NYSE:EMN) by 4.2% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 219,448 shares of the basic materials company’s stock after acquiring an additional 8,896 shares during the quarter. Kornitzer Capital Management Inc. KS’s holdings in Eastman Chemical were worth $16,748,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. State Street Corp increased its position 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 purchasing an additional 1,112,391 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of Eastman Chemical by 13.5% in the 4th quarter. Dimensional Fund Advisors LP now owns 4,597,875 shares of the basic materials company’s stock valued at $293,486,000 after purchasing an additional 545,219 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Eastman Chemical by 0.6% during the 4th quarter. Franklin Resources Inc. now owns 3,722,964 shares of the basic materials company’s stock valued at $237,637,000 after buying an additional 20,634 shares during the period. Bank of America Corp DE increased its holdings in shares of Eastman Chemical by 6.1% during the 2nd quarter. Bank of America Corp DE now owns 2,476,677 shares of the basic materials company’s stock worth $184,909,000 after buying an additional 143,323 shares during the last quarter. Finally, Earnest Partners LLC increased its holdings in shares of Eastman Chemical by 7.6% during the 4th quarter. Earnest Partners LLC now owns 2,405,649 shares of the basic materials company’s stock worth $153,553,000 after buying an additional 170,676 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

Eastman Chemical Stock Up 0.5%

Shares of EMN traded up $0.34 during mid-day trading on Friday, reaching $67.56. 861,119 shares of the stock traded hands, compared to its average volume of 1,220,698. The stock has a fifty day simple moving average of $72.15 and a 200 day simple moving average of $71.78. Eastman Chemical Company has a 12-month low of $56.11 and a 12-month high of $83.47. The company has a quick ratio of 0.71, a current ratio of 1.47 and a debt-to-equity ratio of 0.73. The firm 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.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, April 30th. The basic materials company reported $1.09 earnings per share for the quarter, beating analysts’ consensus estimates of $1.07 by $0.02. Eastman Chemical had a net margin of 4.62% and a return on equity of 8.88%. The business had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. During the same period last year, the business earned $1.91 EPS. The business’s revenue was down 4.9% on a year-over-year basis. Eastman Chemical has set its Q2 2026 guidance at 1.700-1.900 EPS. Sell-side analysts expect that Eastman Chemical Company will post 6.3 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 8th. Stockholders of record on Monday, June 15th were given 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 payout ratio is presently 97.39%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on EMN. UBS Group raised their price objective on Eastman Chemical from $80.00 to $88.00 and gave the stock a “buy” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft restated a “hold” rating and issued a $82.00 price target on shares of Eastman Chemical in a report on Tuesday, May 5th. Weiss Ratings reissued a “hold (c)” rating on shares of Eastman Chemical in a research report on Monday, May 18th. Citigroup reduced their target price on shares of Eastman Chemical from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. increased their price target on Eastman Chemical from $80.00 to $82.00 and gave the company an “overweight” rating in a report on Monday, May 4th. Seven analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Eastman Chemical presently has an average rating of “Moderate Buy” and a consensus price target of $79.67.

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.