Eastman Chemical (NYSE:EMN) Sets New 1-Year Low - Should You Sell?

Eastman Chemical (NYSE:EMN - Get Free Report)'s stock price hit a new 52-week low during trading on Friday . The company traded as low as $86.59 and last traded at $86.81, with a volume of 205231 shares. The stock had previously closed at $88.92.

Analysts Set New Price Targets

A number of analysts have recently issued reports on EMN shares. Piper Sandler lifted their price objective on shares of Eastman Chemical from $102.00 to $105.00 and gave the stock a "neutral" rating in a report on Thursday, February 13th. Bank of America raised Eastman Chemical from a "neutral" rating to a "buy" rating and dropped their price target for the stock from $115.00 to $109.00 in a research note on Tuesday, January 14th. Barclays reduced their price objective on Eastman Chemical from $111.00 to $108.00 and set an "equal weight" rating on the stock in a research report on Monday, February 3rd. UBS Group dropped their target price on Eastman Chemical from $124.00 to $123.00 and set a "buy" rating for the company in a research report on Friday, January 31st. Finally, Citigroup cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and reduced their price target for the company from $118.00 to $104.00 in a research report on Wednesday, December 18th. Six analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Eastman Chemical currently has an average rating of "Moderate Buy" and an average price target of $114.08.

Eastman Chemical Trading Up 0.0 %

The firm's 50 day moving average is $95.43 and its 200 day moving average is $99.19. 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 has a market capitalization of $10.15 billion, a PE ratio of 11.47, a P/E/G ratio of 1.22 and a beta of 1.43.

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Eastman Chemical (NYSE:EMN - Get Free Report) last released its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. As a group, equities analysts predict that Eastman Chemical will post 8.55 EPS for the current year.

Eastman Chemical Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be given a $0.83 dividend. The ex-dividend date is Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.77%. Eastman Chemical's dividend payout ratio is currently 43.23%.

Institutional Trading of Eastman Chemical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Capital Research Global Investors raised its holdings in Eastman Chemical by 13.4% in the 4th quarter. Capital Research Global Investors now owns 5,886,564 shares of the basic materials company's stock worth $537,561,000 after purchasing an additional 697,388 shares in the last quarter. Franklin Resources Inc. raised its stake in Eastman Chemical by 10.8% in the fourth quarter. Franklin Resources Inc. now owns 5,785,259 shares of the basic materials company's stock worth $528,310,000 after buying an additional 565,821 shares in the last quarter. State Street Corp lifted its holdings in Eastman Chemical by 1.4% in the third quarter. State Street Corp now owns 5,285,230 shares of the basic materials company's stock worth $595,820,000 after buying an additional 70,692 shares during the period. Invesco Ltd. boosted its position in Eastman Chemical by 11.1% during the 4th quarter. Invesco Ltd. now owns 2,844,165 shares of the basic materials company's stock valued at $259,729,000 after acquiring an additional 284,271 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA grew its holdings in shares of Eastman Chemical by 4.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 2,843,506 shares of the basic materials company's stock worth $259,669,000 after acquiring an additional 109,316 shares during the period. Hedge funds and other institutional investors 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.