Eastman Chemical (NYSE:EMN) Price Target Raised to $100.00 at Wells Fargo & Company

Eastman Chemical (NYSE:EMN - Free Report) had its price target raised by Wells Fargo & Company from $89.00 to $100.00 in a research report report published on Thursday, Benzinga reports. The firm currently has an equal weight rating on the basic materials company's stock.

Other equities research analysts also recently issued reports about the stock. UBS Group upped their price objective on shares of Eastman Chemical from $91.00 to $93.00 and gave the company a neutral rating in a report on Friday, February 2nd. KeyCorp raised their price objective on shares of Eastman Chemical from $101.00 to $121.00 and gave the stock an overweight rating in a report on Tuesday. Redburn Atlantic started coverage on shares of Eastman Chemical in a report on Thursday, February 15th. They set a buy rating and a $110.00 target price on the stock. StockNews.com raised Eastman Chemical from a hold rating to a buy rating in a report on Wednesday, December 13th. Finally, The Goldman Sachs Group lifted their price target on Eastman Chemical from $82.00 to $92.00 and gave the company a neutral rating in a research report on Thursday, December 14th. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $97.13.

Eastman Chemical Stock Down 0.6 %

NYSE:EMN traded down $0.63 on Thursday, hitting $100.02. The stock had a trading volume of 757,545 shares, compared to its average volume of 1,110,492. Eastman Chemical has a 1 year low of $68.89 and a 1 year high of $102.71. The firm's fifty day simple moving average is $91.04 and its two-hundred day simple moving average is $84.75. The stock has a market cap of $11.76 billion, a P/E ratio of 13.35, a price-to-earnings-growth ratio of 1.11 and a beta of 1.54. The company has a debt-to-equity ratio of 0.78, a quick ratio of 0.70 and a current ratio of 1.35.

Eastman Chemical (NYSE:EMN - Get Free Report) last announced its earnings results on Friday, February 2nd. The basic materials company reported $1.31 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.28 by $0.03. Eastman Chemical had a return on equity of 14.15% and a net margin of 9.71%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.21 billion. During the same period last year, the firm posted $0.89 EPS. The business's revenue was down 7.0% compared to the same quarter last year. Analysts predict that Eastman Chemical will post 7.7 earnings per share for the current year.

Eastman Chemical Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, April 5th. Stockholders of record on Friday, March 15th were given a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 3.24%. The ex-dividend date of this dividend was Thursday, March 14th. Eastman Chemical's dividend payout ratio is 43.26%.

Insider Activity

In other Eastman Chemical news, SVP Adrian James Holt sold 4,735 shares of the business's stock in a transaction on Wednesday, March 6th. The shares were sold at an average price of $87.75, for a total transaction of $415,496.25. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 2.28% of the company's stock.

Institutional Investors Weigh In On Eastman Chemical

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Burns J W & Co. Inc. NY purchased a new position in Eastman Chemical during the 4th quarter valued at about $205,000. Invesco Ltd. increased its holdings in Eastman Chemical by 37.4% during the third quarter. Invesco Ltd. now owns 2,795,824 shares of the basic materials company's stock valued at $214,496,000 after buying an additional 760,974 shares during the period. Charles Schwab Investment Management Inc. raised its stake in Eastman Chemical by 1.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,079,130 shares of the basic materials company's stock worth $82,791,000 after buying an additional 19,450 shares in the last quarter. Morgan Stanley lifted its holdings in Eastman Chemical by 1.0% during the third quarter. Morgan Stanley now owns 3,978,856 shares of the basic materials company's stock worth $305,258,000 after buying an additional 39,860 shares during the period. Finally, Massachusetts Financial Services Co. MA boosted its position in Eastman Chemical by 2.2% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 2,407,774 shares of the basic materials company's stock valued at $184,724,000 after acquiring an additional 51,788 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.