Eastman Chemical (NYSE:EMN) Price Target Raised to $128.00

Eastman Chemical (NYSE:EMN) had its target price upped by KeyCorp from $121.00 to $128.00 in a research note published on Monday morning,Benzinga reports. The firm currently has an overweight rating on the basic materials company’s stock.

A number of other analysts have also recently issued reports on EMN. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research note on Saturday, January 18th. Citigroup lowered shares of Eastman Chemical from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $118.00 to $104.00 in a research note on Wednesday, December 18th. Wells Fargo & Company raised shares of Eastman Chemical from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $110.00 to $125.00 in a research report on Tuesday, November 26th. Mizuho boosted their price target on Eastman Chemical from $113.00 to $117.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 26th. Finally, Bank of America raised Eastman Chemical from a “neutral” rating to a “buy” rating and lowered their price objective for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Six investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, Eastman Chemical presently has a consensus rating of “Moderate Buy” and a consensus price target of $113.54.

Eastman Chemical Trading Up 0.1 %

Eastman Chemical stock opened at $101.85 on Monday. Eastman Chemical has a 12 month low of $81.00 and a 12 month high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The stock has a market cap of $11.81 billion, a P/E ratio of 13.26, a P/E/G ratio of 0.73 and a beta of 1.44. The company’s fifty day simple moving average is $94.59 and its 200-day simple moving average is $100.08.

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

Eastman Chemical Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th were paid a $0.83 dividend. This is an increase 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 3.26%. Eastman Chemical’s dividend payout ratio (DPR) is presently 43.23%.

Insider Activity at Eastman Chemical

In other news, SVP Julie A. Mcalindon sold 4,456 shares of the business’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares in the company, valued at approximately $466,013.52. The trade was a 50.30 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Stephen Glenn Crawford sold 10,504 shares of the stock in a transaction dated 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 completion of the sale, the executive vice president now 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 disclosure for this sale can be found here. Corporate insiders own 2.28% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. UMB Bank n.a. boosted its stake in Eastman Chemical by 4.3% during the third quarter. UMB Bank n.a. now owns 2,343 shares of the basic materials company’s stock worth $262,000 after buying an additional 96 shares in the last quarter. V Square Quantitative Management LLC increased its stake in Eastman Chemical by 3.8% in the third quarter. V Square Quantitative Management LLC now owns 2,683 shares of the basic materials company’s stock valued at $300,000 after acquiring an additional 98 shares during the period. Private Trust Co. NA raised its position in Eastman Chemical by 14.0% in the fourth quarter. Private Trust Co. NA now owns 837 shares of the basic materials company’s stock worth $76,000 after purchasing an additional 103 shares in the last quarter. Patrick M Sweeney & Associates Inc. lifted its stake in Eastman Chemical by 3.3% during the third quarter. Patrick M Sweeney & Associates Inc. now owns 3,434 shares of the basic materials company’s stock worth $384,000 after purchasing an additional 111 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Eastman Chemical by 2.2% during the fourth quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company’s stock valued at $503,000 after purchasing an additional 116 shares in the last quarter. 83.65% of the stock is currently owned by institutional investors and hedge funds.

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.