Eastman Chemical (NYSE:EMN) PT Raised to $114.00

Eastman Chemical (NYSE:EMN) had its price objective lifted by Citigroup from $95.00 to $114.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the basic materials company’s stock.

A number of other research analysts have also recently commented on EMN. Stifel Nicolaus cut their target price on Eastman Chemical from $102.00 to $101.00 and set a buy rating on the stock in a research note on Monday, February 5th. UBS Group upped their target price on Eastman Chemical from $91.00 to $93.00 and gave the company a neutral rating in a research note on Friday, February 2nd. The Goldman Sachs Group increased their price objective on Eastman Chemical from $82.00 to $92.00 and gave the stock a neutral rating in a research note on Thursday, December 14th. Royal Bank of Canada dropped their price objective on Eastman Chemical from $91.00 to $89.00 and set a sector perform rating on the stock in a research note on Tuesday, February 6th. Finally, KeyCorp increased their price objective on Eastman Chemical from $101.00 to $121.00 and gave the stock an overweight rating in a research note on Tuesday. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $96.19.

Eastman Chemical Trading Down 1.3 %

Shares of EMN stock opened at $100.64 on Wednesday. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.35 and a quick ratio of 0.70. The stock’s 50 day simple moving average is $90.73 and its two-hundred day simple moving average is $84.64. The company has a market cap of $11.84 billion, a PE ratio of 13.44, a price-to-earnings-growth ratio of 1.11 and a beta of 1.54.

Eastman Chemical (NYSE:EMN) last released its earnings results on Friday, February 2nd. The basic materials company reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.28 by $0.03. The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.21 billion. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The company’s quarterly revenue was down 7.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.89 earnings per share. Research analysts predict that Eastman Chemical will post 7.7 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 5th. Shareholders of record on Friday, March 15th were given a dividend of $0.81 per share. The ex-dividend date was Thursday, March 14th. This represents a $3.24 annualized dividend and a yield of 3.22%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.26%.

Insider Buying and Selling at Eastman Chemical

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the stock in a transaction on Wednesday, March 6th. The stock was sold at an average price of $87.75, for a total transaction of $415,496.25. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 2.28% of the company’s stock.

Institutional Trading of Eastman Chemical

Several hedge funds and other institutional investors have recently made changes to their positions in EMN. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its holdings in shares of Eastman Chemical by 2.3% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 17,261 shares of the basic materials company’s stock valued at $1,934,000 after purchasing an additional 386 shares during the last quarter. Yousif Capital Management LLC lifted its holdings in shares of Eastman Chemical by 0.8% during the 1st quarter. Yousif Capital Management LLC now owns 18,628 shares of the basic materials company’s stock valued at $2,087,000 after purchasing an additional 150 shares during the last quarter. Cibc World Market Inc. lifted its holdings in shares of Eastman Chemical by 10.4% during the 1st quarter. Cibc World Market Inc. now owns 6,098 shares of the basic materials company’s stock valued at $683,000 after purchasing an additional 572 shares during the last quarter. Blair William & Co. IL raised its stake in Eastman Chemical by 2.5% in the 1st quarter. Blair William & Co. IL now owns 4,380 shares of the basic materials company’s stock worth $491,000 after acquiring an additional 105 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Eastman Chemical by 16.4% in the 1st quarter. Sei Investments Co. now owns 200,656 shares of the basic materials company’s stock worth $22,546,000 after acquiring an additional 28,338 shares during the last quarter. Hedge funds and other institutional investors own 83.65% of the company’s stock.

About Eastman Chemical

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.