Eastman Chemical (NYSE:EMN) Price Target Lowered to $107.00 at UBS Group

Eastman Chemical (NYSE:EMN - Free Report) had its price objective reduced by UBS Group from $111.00 to $107.00 in a research note issued to investors on Wednesday,Benzinga reports. UBS Group currently has a buy rating on the basic materials company's stock.

A number of other analysts have also recently issued reports on the company. KeyCorp lowered their target price on Eastman Chemical from $120.00 to $106.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. Wells Fargo & Company decreased their target price on shares of Eastman Chemical from $125.00 to $90.00 and set an "overweight" rating on the stock in a report on Wednesday, April 9th. Wall Street Zen lowered shares of Eastman Chemical from a "buy" rating to a "hold" rating in a research report on Monday, April 28th. Piper Sandler dropped their price objective on shares of Eastman Chemical from $105.00 to $99.00 and set a "neutral" rating on the stock in a report on Monday, April 7th. Finally, The Goldman Sachs Group lowered their price target on shares of Eastman Chemical from $112.00 to $87.00 and set a "neutral" rating on the stock in a report on Monday, April 28th. Six research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $98.54.

Eastman Chemical Stock Up 0.8%

NYSE EMN traded up $0.64 during trading on Wednesday, reaching $81.61. The company's stock had a trading volume of 1,406,790 shares, compared to its average volume of 1,100,765. The business has a 50-day moving average price of $79.98 and a 200-day moving average price of $90.69. The company has a current ratio of 1.51, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. Eastman Chemical has a 1-year low of $70.90 and a 1-year high of $114.50. The stock has a market capitalization of $9.42 billion, a PE ratio of 10.63, a PEG ratio of 1.22 and a beta of 1.29.

Eastman Chemical (NYSE:EMN - Get Free Report) last posted its earnings results on Thursday, April 24th. The basic materials company reported $1.91 earnings per share for the quarter, topping the consensus estimate of $1.89 by $0.02. The business had revenue of $2.29 billion for the quarter, compared to analyst estimates of $2.35 billion. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. The firm's quarterly revenue was down .9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.61 EPS. On average, research analysts forecast that Eastman Chemical will post 8.55 earnings per share for the current fiscal year.

Eastman Chemical Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Friday, June 13th will be paid a dividend of $0.83 per share. This represents a $3.32 annualized dividend and a dividend yield of 4.07%. The ex-dividend date of this dividend is Friday, June 13th. Eastman Chemical's payout ratio is 42.24%.

Institutional Trading of Eastman Chemical

Several large investors have recently added to or reduced their stakes in EMN. Private Trust Co. NA boosted its holdings in Eastman Chemical by 14.0% during the 4th quarter. Private Trust Co. NA now owns 837 shares of the basic materials company's stock valued at $76,000 after acquiring an additional 103 shares during the period. Blue Trust Inc. boosted its holdings in Eastman Chemical by 2.2% in the 4th quarter. Blue Trust Inc. now owns 5,505 shares of the basic materials company's stock valued at $503,000 after purchasing an additional 116 shares in the last quarter. Picton Mahoney Asset Management boosted its holdings in Eastman Chemical by 62.3% in the 4th quarter. Picton Mahoney Asset Management now owns 323 shares of the basic materials company's stock valued at $29,000 after purchasing an additional 124 shares in the last quarter. Holderness Investments Co. boosted its stake in shares of Eastman Chemical by 1.2% during the 1st quarter. Holderness Investments Co. now owns 10,466 shares of the basic materials company's stock worth $922,000 after acquiring an additional 125 shares in the last quarter. Finally, Caprock Group LLC boosted its stake in shares of Eastman Chemical by 4.2% during the 4th quarter. Caprock Group LLC now owns 3,196 shares of the basic materials company's stock worth $295,000 after acquiring an additional 128 shares in the last quarter. 83.65% of the stock is currently owned by hedge funds and other 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.