Eastman Chemical (NYSE:EMN) has earned a consensus rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat reports. Two analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and seven have given a buy recommendation to the company. The average 1 year price target among analysts that have issued ratings on the stock in the last year is $97.45.

Several research firms have recently weighed in on EMN. Zacks Investment Research downgraded Eastman Chemical from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Standpoint Research upgraded Eastman Chemical from a “hold” rating to a “buy” rating in a research report on Wednesday, December 26th. Jefferies Financial Group decreased their target price on Eastman Chemical to $91.00 and set a “buy” rating on the stock in a research report on Friday, December 21st. ValuEngine upgraded Eastman Chemical from a “strong sell” rating to a “sell” rating in a research report on Thursday, December 13th. Finally, Stifel Nicolaus began coverage on Eastman Chemical in a research report on Monday, December 10th. They issued a “buy” rating and a $95.00 target price on the stock.

In related news, Director David W. Raisbeck acquired 13,500 shares of Eastman Chemical stock in a transaction that occurred on Friday, December 7th. The shares were purchased at an average price of $73.21 per share, for a total transaction of $988,335.00. Following the completion of the transaction, the director now owns 35,418 shares in the company, valued at approximately $2,592,951.78. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 1.18% of the company’s stock.

A number of institutional investors have recently made changes to their positions in the stock. First National Bank of Mount Dora Trust Investment Services lifted its position in Eastman Chemical by 0.5% during the fourth quarter. First National Bank of Mount Dora Trust Investment Services now owns 35,431 shares of the basic materials company’s stock worth $2,591,000 after buying an additional 190 shares in the last quarter. Strategic Wealth Partners Ltd. raised its position in Eastman Chemical by 18.8% in the third quarter. Strategic Wealth Partners Ltd. now owns 1,969 shares of the basic materials company’s stock valued at $188,000 after purchasing an additional 311 shares during the period. Moody National Bank Trust Division purchased a new stake in Eastman Chemical in the fourth quarter valued at $29,000. Meiji Yasuda Asset Management Co Ltd. raised its position in Eastman Chemical by 7.7% in the third quarter. Meiji Yasuda Asset Management Co Ltd. now owns 9,205 shares of the basic materials company’s stock valued at $881,000 after purchasing an additional 660 shares during the period. Finally, Howe & Rusling Inc. raised its position in Eastman Chemical by 3.4% in the third quarter. Howe & Rusling Inc. now owns 20,655 shares of the basic materials company’s stock valued at $1,977,000 after purchasing an additional 674 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Shares of EMN opened at $76.70 on Friday. The company has a current ratio of 1.69, a quick ratio of 0.94 and a debt-to-equity ratio of 0.98. Eastman Chemical has a 12 month low of $67.40 and a 12 month high of $112.45. The company has a market capitalization of $10.69 billion, a price-to-earnings ratio of 10.08, a price-to-earnings-growth ratio of 0.96 and a beta of 1.17.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 25th. The basic materials company reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.29 by $0.05. The business had revenue of $2.55 billion for the quarter, compared to the consensus estimate of $2.53 billion. Eastman Chemical had a return on equity of 21.18% and a net margin of 16.05%. Research analysts anticipate that Eastman Chemical will post 8.42 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 4th. Investors of record on Monday, December 17th were given a dividend of $0.62 per share. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.56. The ex-dividend date of this dividend was Friday, December 14th. This represents a $2.48 dividend on an annualized basis and a yield of 3.23%. Eastman Chemical’s dividend payout ratio (DPR) is presently 32.59%.

Eastman Chemical Company Profile

Eastman Chemical Company manufactures and sells materials, specialty additives, chemicals, and fibers in the United States and internationally. The company's Additives & Functional Products segment offers specialty coalescents, specialty and commodity solvents, paint additives, and specialty polymers; hydrocarbon and rosin resins; insoluble sulfur and antidegradant rubber additives; performance resins and amine derivative-based building blocks; heat transfer and aviation fluids; formic acid-based solutions; and metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators.

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Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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