Eastman Chemical (NYSE:EMN) PT Raised to $102.00

Eastman Chemical (NYSE:EMN) had its price objective upped by Mizuho from $91.00 to $102.00 in a report published on Friday morning, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

A number of other brokerages have also issued reports on EMN. Citigroup increased their price objective on Eastman Chemical from $95.00 to $114.00 and gave the stock a buy rating in a report on Wednesday, April 10th. Stifel Nicolaus decreased their price objective on Eastman Chemical from $102.00 to $101.00 and set a buy rating for the company in a report on Monday, February 5th. UBS Group increased their price objective on Eastman Chemical from $91.00 to $93.00 and gave the stock a neutral rating in a report on Friday, February 2nd. Royal Bank of Canada increased their price objective on Eastman Chemical from $89.00 to $100.00 and gave the stock a sector perform rating in a report on Friday, April 19th. Finally, Wells Fargo & Company increased their price objective on Eastman Chemical from $89.00 to $100.00 and gave the stock an equal weight rating in a report on Thursday, April 11th. Seven investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $99.31.

Eastman Chemical Trading Down 0.6 %

NYSE:EMN opened at $95.52 on Friday. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35. Eastman Chemical has a one year low of $68.89 and a one year high of $102.71. The business’s 50-day simple moving average is $93.78 and its 200 day simple moving average is $86.23. The stock has a market cap of $11.23 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.06 and a beta of 1.54.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, April 25th. The basic materials company reported $1.61 EPS for the quarter, topping the consensus estimate of $1.41 by $0.20. Eastman Chemical had a return on equity of 13.95% and a net margin of 10.16%. The business had revenue of $2.31 billion for the quarter, compared to analysts’ expectations of $2.29 billion. During the same quarter in the previous year, the firm posted $1.63 earnings per share. The company’s revenue was down 4.2% compared to the same quarter last year. As a group, sell-side analysts predict that Eastman Chemical will post 7.71 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.39%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical’s dividend payout ratio is presently 41.75%.

Insider Transactions at Eastman Chemical

In other news, SVP Adrian James Holt sold 4,735 shares of the firm’s stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total value of $415,496.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 1.93% of the stock is currently owned by insiders.

Institutional Trading of Eastman Chemical

Hedge funds and other institutional investors have recently modified their holdings of the business. Quadrant Capital Group LLC raised its holdings in shares of Eastman Chemical by 8.5% during the fourth quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 128 shares in the last quarter. Tucker Asset Management LLC raised its holdings in shares of Eastman Chemical by 19.5% during the third quarter. Tucker Asset Management LLC now owns 870 shares of the basic materials company’s stock worth $67,000 after acquiring an additional 142 shares in the last quarter. Atria Wealth Solutions Inc. raised its holdings in shares of Eastman Chemical by 4.6% during the fourth quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 151 shares in the last quarter. Parkside Financial Bank & Trust raised its holdings in shares of Eastman Chemical by 26.2% during the third quarter. Parkside Financial Bank & Trust now owns 814 shares of the basic materials company’s stock worth $62,000 after acquiring an additional 169 shares in the last quarter. Finally, Steph & Co. raised its holdings in shares of Eastman Chemical by 12.8% during the third quarter. Steph & Co. now owns 1,765 shares of the basic materials company’s stock worth $135,000 after acquiring an additional 200 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

Eastman Chemical Company Profile

Eastman Chemical Company operates as a specialty materials company in the United States, China, and internationally. The company's Additives & Functional Products segment offers amine derivative-based building blocks, intermediates for surfactants, metam-based soil fumigants, and organic acid-based solutions; specialty coalescent and solvents, paint additives, and specialty polymers; and heat transfer and aviation fluids.