Eastman Chemical (NYSE:EMN) Price Target Increased to $108.00 by Analysts at Deutsche Bank Aktiengesellschaft

Eastman Chemical (NYSE:EMN) had its price target increased by Deutsche Bank Aktiengesellschaft from $100.00 to $108.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a hold rating on the basic materials company’s stock.

Several other research firms have also commented on EMN. StockNews.com lowered shares of Eastman Chemical from a buy rating to a hold rating in a research note on Thursday, June 20th. Royal Bank of Canada boosted their price target on shares of Eastman Chemical from $100.00 to $104.00 and gave the company a sector perform rating in a report on Tuesday, April 30th. Mizuho boosted their price target on shares of Eastman Chemical from $102.00 to $107.00 and gave the company a neutral rating in a report on Friday, July 26th. KeyCorp boosted their price target on shares of Eastman Chemical from $101.00 to $121.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, Jefferies Financial Group upgraded shares of Eastman Chemical from a hold rating to a buy rating and boosted their price target for the company from $102.00 to $125.00 in a report on Monday, April 29th. Seven research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $108.07.

Eastman Chemical Trading Down 1.6 %

Shares of NYSE:EMN opened at $101.70 on Monday. The company has a 50 day moving average of $99.00 and a 200-day moving average of $94.73. The firm has a market cap of $11.96 billion, a P/E ratio of 13.11, a P/E/G ratio of 1.14 and a beta of 1.46. Eastman Chemical has a twelve month low of $68.89 and a twelve month high of $105.98. The company has a current ratio of 1.40, a quick ratio of 0.71 and a debt-to-equity ratio of 0.76.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, July 25th. The basic materials company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.01 by $0.14. Eastman Chemical had a net margin of 9.65% and a return on equity of 13.94%. The business had revenue of $2.36 billion during the quarter, compared to analyst estimates of $2.36 billion. During the same period in the prior year, the business earned $1.99 earnings per share. The business’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, analysts anticipate that Eastman Chemical will post 7.69 earnings per share for the current fiscal year.

Eastman Chemical Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, October 7th. Stockholders of record on Monday, September 16th will be paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.19%. Eastman Chemical’s dividend payout ratio (DPR) is 41.75%.

Insider Transactions at Eastman Chemical

In other news, CEO Mark J. Costa sold 102,390 shares of the stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the transaction, the chief executive officer now owns 395,699 shares in the company, valued at approximately $39,878,545.22. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, SVP Adrian James Holt sold 3,662 shares of the stock in a transaction on Friday, May 10th. The shares were sold at an average price of $101.26, for a total transaction of $370,814.12. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Mark J. Costa sold 102,390 shares of the stock in a transaction on Tuesday, May 7th. The stock was sold at an average price of $100.78, for a total transaction of $10,318,864.20. Following the transaction, the chief executive officer now owns 395,699 shares in the company, valued at approximately $39,878,545.22. The disclosure for this sale can be found here. Insiders have sold a total of 108,027 shares of company stock worth $10,885,638 in the last 90 days. 1.93% of the stock is owned by insiders.

Institutional Trading of Eastman Chemical

Large investors have recently modified their holdings of the company. Turtle Creek Wealth Advisors LLC bought a new stake in shares of Eastman Chemical during the 4th quarter worth $26,000. Cultivar Capital Inc. bought a new stake in shares of Eastman Chemical during the 2nd quarter worth $29,000. Northwest Investment Counselors LLC bought a new stake in shares of Eastman Chemical during the 1st quarter worth $34,000. EntryPoint Capital LLC bought a new stake in shares of Eastman Chemical during the 1st quarter worth $38,000. Finally, Rothschild Investment LLC bought a new stake in shares of Eastman Chemical during the 2nd quarter worth $38,000. 83.65% of the stock is 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.