Eastman Chemical (NYSE:EMN) PT Raised to $107.00 at Mizuho

Eastman Chemical (NYSE:EMN) had its price target increased by Mizuho from $102.00 to $107.00 in a research note issued to investors on Friday, Benzinga reports. They currently have a neutral rating on the basic materials company’s stock.

Other equities research analysts have also recently issued research reports about the company. StockNews.com cut Eastman Chemical from a buy rating to a hold rating in a report on Thursday, June 20th. Jefferies Financial Group upgraded shares of Eastman Chemical from a hold rating to a buy rating and lifted their price target for the stock from $102.00 to $125.00 in a research report on Monday, April 29th. UBS Group upgraded shares of Eastman Chemical from a neutral rating to a buy rating and lifted their price target for the stock from $106.00 to $128.00 in a research report on Thursday, May 23rd. Citigroup decreased their price target on shares of Eastman Chemical from $114.00 to $111.00 and set a buy rating on the stock in a research report on Thursday, June 27th. Finally, KeyCorp lifted their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an overweight rating in a research report on Tuesday, April 9th. Seven equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $108.75.

Eastman Chemical Stock Performance

EMN opened at $101.24 on Friday. The business’s 50 day moving average is $98.86 and its 200-day moving average is $94.56. The stock has a market cap of $11.91 billion, a PE ratio of 13.05, a price-to-earnings-growth ratio of 1.11 and a beta of 1.46. The company has a current ratio of 1.39, a quick ratio of 0.71 and a debt-to-equity ratio of 0.77. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $105.98.

Eastman Chemical (NYSE:EMN) last released its quarterly earnings results on Thursday, July 25th. The basic materials company reported $2.15 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.14. The company had revenue of $2.36 billion for the quarter, compared to analysts’ expectations of $2.36 billion. Eastman Chemical had a return on equity of 14.06% and a net margin of 9.65%. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.99 earnings per share. On average, analysts predict that Eastman Chemical will post 7.69 earnings per share for the current year.

Eastman Chemical Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 9th. Investors of record on Monday, June 17th were paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 3.20%. The ex-dividend date of this dividend was Monday, June 17th. Eastman Chemical’s payout ratio is presently 41.75%.

Insider Activity at Eastman Chemical

In related news, CEO Mark J. Costa sold 102,390 shares of Eastman Chemical stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total value of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares of the company’s stock, valued at approximately $39,878,545.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Mark J. Costa sold 102,390 shares of Eastman Chemical stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total value of $10,318,864.20. Following the completion of the sale, the chief executive officer now owns 395,699 shares of the company’s stock, valued at approximately $39,878,545.22. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Adrian James Holt sold 1,975 shares of Eastman Chemical stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $99.22, for a total transaction of $195,959.50. The disclosure for this sale can be found here. In the last 90 days, insiders sold 108,027 shares of company stock valued at $10,885,638. Insiders own 1.93% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Lcnb Corp lifted its position in Eastman Chemical by 1.7% during the 1st quarter. Lcnb Corp now owns 6,275 shares of the basic materials company’s stock worth $629,000 after acquiring an additional 103 shares during the last quarter. Kingswood Wealth Advisors LLC lifted its position in Eastman Chemical by 2.8% during the 2nd quarter. Kingswood Wealth Advisors LLC now owns 4,026 shares of the basic materials company’s stock worth $394,000 after acquiring an additional 111 shares during the last quarter. Quadrant Capital Group LLC lifted its position in Eastman Chemical by 8.5% during the 4th quarter. Quadrant Capital Group LLC now owns 1,639 shares of the basic materials company’s stock worth $147,000 after acquiring an additional 128 shares during the last quarter. Empirical Finance LLC lifted its position in Eastman Chemical by 3.3% during the 1st quarter. Empirical Finance LLC now owns 4,525 shares of the basic materials company’s stock worth $453,000 after acquiring an additional 145 shares during the last quarter. Finally, Atria Wealth Solutions Inc. lifted its position in Eastman Chemical by 4.6% during the 4th quarter. Atria Wealth Solutions Inc. now owns 3,452 shares of the basic materials company’s stock worth $310,000 after acquiring an additional 151 shares during the last quarter. Institutional investors and hedge funds 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.