Eastman Chemical (EMN) – Investment Analysts’ Weekly Ratings Updates

Eastman Chemical (NYSE: EMN) recently received a number of ratings updates from brokerages and research firms:

• 12/3/2024 – Eastman Chemical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/26/2024 – Eastman Chemical was upgraded by analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating. They now have a $125.00 price target on the stock, up previously from $110.00.
• 11/26/2024 – Eastman Chemical had its price target raised by analysts at Mizuho from $113.00 to $117.00. They now have a “neutral” rating on the stock.
• 11/25/2024 – Eastman Chemical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/22/2024 – Eastman Chemical had its “sector perform” rating reaffirmed by analysts at Royal Bank of Canada. They now have a $105.00 price target on the stock.
• 11/14/2024 – Eastman Chemical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 11/6/2024 – Eastman Chemical had its price target lowered by analysts at Royal Bank of Canada from $107.00 to $105.00. They now have a “sector perform” rating on the stock.
• 11/6/2024 – Eastman Chemical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Deutsche Bank Aktiengesellschaft from $115.00 to $110.00. They now have a “hold” rating on the stock.
• 11/4/2024 – Eastman Chemical had its price target lowered by analysts at Wells Fargo & Company from $118.00 to $110.00. They now have an “equal weight” rating on the stock.
• 11/1/2024 – Eastman Chemical had its price target raised by analysts at Mizuho from $107.00 to $113.00. They now have a “neutral” rating on the stock.

Eastman Chemical Stock Performance

Shares of EMN opened at $98.50 on Monday. The company has a market capitalization of $11.42 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 0.79 and a beta of 1.42. Eastman Chemical has a 52-week low of $80.71 and a 52-week high of $114.50. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. The stock has a 50 day moving average price of $104.33 and a 200 day moving average price of $101.79.

Eastman Chemical (NYSE:EMN) last issued its earnings results on Thursday, October 31st. The basic materials company reported $2.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.14 by $0.12. Eastman Chemical had a net margin of 9.47% and a return on equity of 15.37%. The business had revenue of $2.46 billion during the quarter, compared to analysts’ expectations of $2.38 billion. During the same quarter in the prior year, the business posted $1.47 EPS. The company’s revenue for the quarter was up 8.7% on a year-over-year basis. Research analysts predict that Eastman Chemical will post 7.63 EPS for the current fiscal year.

Eastman Chemical Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 8th. Stockholders of record on Monday, December 16th will be given a dividend of $0.83 per share. The ex-dividend date of this dividend is Monday, December 16th. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.37%. This is a boost from Eastman Chemical’s previous quarterly dividend of $0.81. Eastman Chemical’s payout ratio is 43.37%.

Insider Activity at Eastman Chemical

In other news, EVP Stephen Glenn Crawford sold 10,504 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $105.00, for a total value of $1,102,920.00. Following the completion of the sale, the executive vice president now directly owns 47,287 shares of the company’s stock, valued at approximately $4,965,135. This represents a 18.18 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Christopher Moore Killian sold 3,061 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $105.00, for a total value of $321,405.00. Following the sale, the senior vice president now directly owns 12,366 shares of the company’s stock, valued at $1,298,430. The trade was a 19.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,021 shares of company stock valued at $1,895,948 in the last three months. 1.93% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eastman Chemical

Several institutional investors have recently bought and sold shares of the company. Franklin Resources Inc. lifted its position in Eastman Chemical by 5.7% in the third quarter. Franklin Resources Inc. now owns 5,219,438 shares of the basic materials company’s stock valued at $593,233,000 after purchasing an additional 282,458 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of Eastman Chemical in the 3rd quarter valued at approximately $656,000. Sanctuary Advisors LLC lifted its holdings in shares of Eastman Chemical by 21.5% in the 3rd quarter. Sanctuary Advisors LLC now owns 26,008 shares of the basic materials company’s stock valued at $2,746,000 after buying an additional 4,606 shares during the period. Rehmann Capital Advisory Group purchased a new stake in shares of Eastman Chemical in the third quarter valued at approximately $202,000. Finally, Fortem Financial Group LLC purchased a new position in Eastman Chemical in the third quarter worth $462,000. 83.65% of the stock is owned by institutional investors and hedge funds.

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.