Eastman Chemical (NYSE:EMN) Price Target Lowered to $115.00 at UBS Group

Eastman Chemical (NYSE:EMN) had its target price cut by UBS Group from $123.00 to $115.00 in a research note published on Monday,Benzinga reports. They currently have a buy rating on the basic materials company’s stock.

EMN has been the subject of several other research reports. JPMorgan Chase & Co. upped their price target on shares of Eastman Chemical from $110.00 to $112.00 and gave the company an “overweight” rating in a research report on Monday, February 3rd. StockNews.com upgraded shares of Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Saturday, January 18th. Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and decreased their price target for the stock from $115.00 to $109.00 in a research report on Tuesday, January 14th. Royal Bank of Canada boosted their price objective on shares of Eastman Chemical from $101.00 to $103.00 and gave the company a “sector perform” rating in a research report on Tuesday, February 4th. Finally, Barclays reduced their price objective on Eastman Chemical from $111.00 to $108.00 and set an “equal weight” rating for the company in a research note on Monday, February 3rd. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $111.67.

Eastman Chemical Trading Down 2.7 %

NYSE:EMN opened at $73.52 on Monday. The company has a market cap of $8.47 billion, a PE ratio of 9.57, a price-to-earnings-growth ratio of 1.22 and a beta of 1.38. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The company has a 50 day simple moving average of $94.37 and a two-hundred day simple moving average of $98.42. Eastman Chemical has a 12 month low of $70.91 and a 12 month high of $114.50.

Eastman Chemical (NYSE:EMN) last issued its quarterly earnings data 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 return on equity of 16.27% and a net margin of 9.65%. Research analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 7th. Shareholders of record on Friday, March 14th were issued a dividend of $0.83 per share. The ex-dividend date was Friday, March 14th. This represents a $3.32 dividend on an annualized basis and a yield of 4.52%. Eastman Chemical’s dividend payout ratio is presently 43.23%.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds have recently made changes to their positions in the business. Public Sector Pension Investment Board raised its stake in Eastman Chemical by 11.2% during the 3rd quarter. Public Sector Pension Investment Board now owns 4,951 shares of the basic materials company’s stock valued at $554,000 after purchasing an additional 500 shares during the period. HighTower Advisors LLC boosted its stake in Eastman Chemical by 7.1% in the 3rd quarter. HighTower Advisors LLC now owns 33,085 shares of the basic materials company’s stock worth $3,696,000 after purchasing an additional 2,183 shares during the period. Janus Henderson Group PLC grew its holdings in Eastman Chemical by 26.6% during the 3rd quarter. Janus Henderson Group PLC now owns 12,868 shares of the basic materials company’s stock valued at $1,441,000 after buying an additional 2,700 shares in the last quarter. Integrated Wealth Concepts LLC raised its position in shares of Eastman Chemical by 12.0% during the third quarter. Integrated Wealth Concepts LLC now owns 2,651 shares of the basic materials company’s stock valued at $297,000 after buying an additional 285 shares during the last quarter. Finally, Stifel Financial Corp lifted its holdings in shares of Eastman Chemical by 6.5% in the third quarter. Stifel Financial Corp now owns 102,475 shares of the basic materials company’s stock worth $11,472,000 after buying an additional 6,242 shares in the last quarter. 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.