Eastman Chemical Company (NYSE:EMN)‘s stock had its “buy” rating reaffirmed by analysts at Jefferies Group LLC in a note issued to investors on Tuesday.

EMN has been the subject of a number of other reports. Zacks Investment Research upgraded Eastman Chemical Company from a “hold” rating to a “buy” rating and set a $89.00 price objective for the company in a research note on Monday, May 1st. TheStreet downgraded Eastman Chemical Company from a “b” rating to a “c+” rating in a research note on Thursday, March 30th. Deutsche Bank AG restated a “buy” rating and set a $92.00 price objective on shares of Eastman Chemical Company in a research note on Wednesday, June 21st. BidaskClub upgraded Eastman Chemical Company from a “hold” rating to a “buy” rating in a research note on Thursday, June 15th. Finally, Royal Bank Of Canada restated a “hold” rating and set a $85.00 price objective on shares of Eastman Chemical Company in a research note on Monday, June 5th. Four analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $84.30.

Eastman Chemical Company (NYSE:EMN) opened at 85.00 on Tuesday. The company has a 50-day moving average of $81.21 and a 200-day moving average of $79.25. Eastman Chemical Company has a 52-week low of $62.70 and a 52-week high of $86.28. The stock has a market capitalization of $12.40 billion, a price-to-earnings ratio of 14.30 and a beta of 1.28.

Eastman Chemical Company (NYSE:EMN) last issued its quarterly earnings data on Thursday, April 27th. The basic materials company reported $1.83 EPS for the quarter, topping the Zacks’ consensus estimate of $1.74 by $0.09. The firm had revenue of $2.30 billion during the quarter, compared to the consensus estimate of $2.24 billion. Eastman Chemical Company had a return on equity of 22.23% and a net margin of 9.84%. Equities research analysts expect that Eastman Chemical Company will post $7.47 EPS for the current year.

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 5th. Stockholders of record on Thursday, June 15th were paid a $0.51 dividend. The ex-dividend date of this dividend was Tuesday, June 13th. This represents a $2.04 annualized dividend and a dividend yield of 2.40%. Eastman Chemical Company’s payout ratio is 33.83%.

TRADEMARK VIOLATION NOTICE: This report was first posted by American Banking News and is owned by of American Banking News. If you are reading this report on another site, it was stolen and republished in violation of US & international trademark & copyright law. The original version of this report can be accessed at https://www.americanbankingnews.com/2017/07/11/eastman-chemical-company-emn-receives-buy-rating-from-jefferies-group-llc.html.

In other news, Director Lewis M. Kling sold 4,000 shares of the stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $79.88, for a total value of $319,520.00. Following the completion of the transaction, the director now owns 15,693 shares of the company’s stock, valued at $1,253,556.84. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Corporate insiders own 1.14% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. DnB Asset Management AS boosted its position in shares of Eastman Chemical Company by 9.4% in the second quarter. DnB Asset Management AS now owns 19,736 shares of the basic materials company’s stock valued at $1,658,000 after buying an additional 1,700 shares in the last quarter. Nomura Asset Management Co. Ltd. boosted its position in shares of Eastman Chemical Company by 3.5% in the first quarter. Nomura Asset Management Co. Ltd. now owns 19,083 shares of the basic materials company’s stock valued at $1,542,000 after buying an additional 653 shares in the last quarter. Nuveen Asset Management LLC boosted its position in shares of Eastman Chemical Company by 118.9% in the first quarter. Nuveen Asset Management LLC now owns 217,902 shares of the basic materials company’s stock valued at $17,606,000 after buying an additional 118,343 shares in the last quarter. Piedmont Investment Advisors LLC boosted its position in shares of Eastman Chemical Company by 1.3% in the first quarter. Piedmont Investment Advisors LLC now owns 20,222 shares of the basic materials company’s stock valued at $1,634,000 after buying an additional 260 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in shares of Eastman Chemical Company by 28.2% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 465,760 shares of the basic materials company’s stock valued at $37,633,000 after buying an additional 102,400 shares in the last quarter. 87.89% of the stock is owned by institutional investors and hedge funds.

Eastman Chemical Company Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

Analyst Recommendations for Eastman Chemical Company (NYSE:EMN)

Receive News & Ratings for Eastman Chemical Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eastman Chemical Company and related companies with MarketBeat.com's FREE daily email newsletter.