JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Eastman Chemical (NYSE:EMN) Stock

Eastman Chemical (NYSE:EMN - Free Report) had its price target raised by JPMorgan Chase & Co. from $110.00 to $112.00 in a research note released on Monday morning,Benzinga reports. They currently have an overweight rating on the basic materials company's stock.

EMN has been the subject of several other research reports. Piper Sandler cut their price objective on Eastman Chemical from $105.00 to $102.00 and set a "neutral" rating for the company in a report on Tuesday, January 7th. Citigroup cut shares of Eastman Chemical from a "buy" rating to a "neutral" rating and cut their price target for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. Mizuho raised their target price on shares of Eastman Chemical from $113.00 to $117.00 and gave the company a "neutral" rating in a research note on Tuesday, November 26th. Deutsche Bank Aktiengesellschaft lowered their price target on Eastman Chemical from $115.00 to $110.00 and set a "hold" rating on the stock in a research report on Monday, November 4th. Finally, UBS Group cut their price objective 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. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. According to MarketBeat, Eastman Chemical currently has an average rating of "Moderate Buy" and an average price target of $113.54.

Eastman Chemical Stock Down 0.6 %

NYSE EMN traded down $0.58 during trading on Monday, hitting $101.21. The stock had a trading volume of 982,506 shares, compared to its average volume of 1,198,084. Eastman Chemical has a 12 month low of $81.00 and a 12 month high of $114.50. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.78 and a current ratio of 1.52. The company's 50-day moving average price is $94.53 and its two-hundred day moving average price is $100.09. The company has a market capitalization of $11.73 billion, a PE ratio of 13.18, a P/E/G ratio of 0.73 and a beta of 1.44.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Thursday, January 30th. The basic materials company reported $1.87 EPS for the quarter, topping the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.40%. As a group, sell-side analysts forecast that Eastman Chemical will post 8.46 EPS for the current year.

Eastman Chemical Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were given a dividend of $0.83 per share. This is a positive change from Eastman Chemical's previous quarterly dividend of $0.81. The ex-dividend date was Monday, December 16th. This represents a $3.32 annualized dividend and a dividend yield of 3.28%. Eastman Chemical's dividend payout ratio (DPR) is currently 43.23%.

Insider Buying and Selling at Eastman Chemical

In related news, EVP Stephen Glenn Crawford sold 10,504 shares of Eastman Chemical stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total transaction of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares of the company's stock, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the completion of the transaction, the senior vice president now directly owns 4,403 shares of the company's stock, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.93% of the company's stock.

Institutional Trading of Eastman Chemical

Hedge funds and other institutional investors have recently made changes to their positions in the company. Crews Bank & Trust bought a new position in shares of Eastman Chemical during the fourth quarter valued at $27,000. Wolff Wiese Magana LLC raised its holdings in Eastman Chemical by 238.1% during the 3rd quarter. Wolff Wiese Magana LLC now owns 284 shares of the basic materials company's stock worth $32,000 after purchasing an additional 200 shares during the last quarter. Assetmark Inc. lifted its holdings in Eastman Chemical by 384.4% in the fourth quarter. Assetmark Inc. now owns 373 shares of the basic materials company's stock valued at $34,000 after buying an additional 296 shares during the period. Bradley & Co. Private Wealth Management LLC acquired a new stake in Eastman Chemical during the 4th quarter worth about $35,000. Finally, Dunhill Financial LLC raised its position in shares of Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company's stock worth $37,000 after acquiring an additional 162 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors.

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.