Brokerages Set Eastman Chemical (NYSE:EMN) PT at $114.08

Shares of Eastman Chemical (NYSE:EMN - Get Free Report) have been assigned a consensus recommendation of "Moderate Buy" from the twelve research firms that are presently covering the stock, Marketbeat.com reports. Six investment analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 12 month target price among brokerages that have issued ratings on the stock in the last year is $114.08.

Several equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Eastman Chemical from a "neutral" rating to a "buy" rating and lowered their price objective for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. Royal Bank of Canada increased their price target on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a "sector perform" rating in a report on Tuesday, February 4th. StockNews.com upgraded shares of Eastman Chemical from a "hold" rating to a "buy" rating in a report on Saturday, January 18th. Piper Sandler increased their target price on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a "neutral" rating in a research note on Thursday, February 13th. Finally, UBS Group lowered their price target on Eastman Chemical from $124.00 to $123.00 and set a "buy" rating on the stock in a research note on Friday, January 31st.

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Hedge Funds Weigh In On Eastman Chemical

Several institutional investors have recently added to or reduced their stakes in EMN. Farther Finance Advisors LLC raised its stake in shares of Eastman Chemical by 20.4% in the third quarter. Farther Finance Advisors LLC now owns 1,677 shares of the basic materials company's stock valued at $188,000 after acquiring an additional 284 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in Eastman Chemical by 2.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 19,568 shares of the basic materials company's stock worth $2,191,000 after purchasing an additional 414 shares in the last quarter. Principal Financial Group Inc. grew its holdings in shares of Eastman Chemical by 6.8% during the third quarter. Principal Financial Group Inc. now owns 148,176 shares of the basic materials company's stock worth $16,588,000 after purchasing an additional 9,447 shares during the last quarter. CWA Asset Management Group LLC acquired a new stake in shares of Eastman Chemical in the third quarter valued at $558,000. Finally, RKL Wealth Management LLC increased its stake in shares of Eastman Chemical by 0.9% in the third quarter. RKL Wealth Management LLC now owns 13,576 shares of the basic materials company's stock valued at $1,520,000 after buying an additional 123 shares in the last quarter. 83.65% of the stock is owned by institutional investors.

Eastman Chemical Stock Performance

Shares of NYSE EMN traded down $2.05 during trading hours on Monday, hitting $90.36. 719,657 shares of the stock were exchanged, compared to its average volume of 1,062,432. The firm has a market capitalization of $10.41 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.22 and a beta of 1.43. Eastman Chemical has a one year low of $86.70 and a one year high of $114.50. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.51 and a quick ratio of 0.78. The company's 50 day moving average is $95.60 and its 200 day moving average is $100.21.

Eastman Chemical (NYSE:EMN - Get Free Report) last issued its quarterly earnings results on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a return on equity of 16.27% and a net margin of 9.65%. On average, research analysts expect that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 annualized dividend and a dividend yield of 3.67%. Eastman Chemical's dividend payout ratio is presently 43.23%.

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.