Research Analysts’ Recent Ratings Changes for Eastman Chemical (EMN)

Several brokerages have updated their recommendations and price targets on shares of Eastman Chemical (NYSE: EMN) in the last few weeks:

• 1/18/2025 – Eastman Chemical was upgraded by analysts at StockNews.com from a “hold” rating to a “buy” rating.
• 1/14/2025 – Eastman Chemical was upgraded by analysts at Bank of America Co. from a “neutral” rating to a “buy” rating. They now have a $109.00 price target on the stock, down previously from $115.00.
• 1/10/2025 – Eastman Chemical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 1/7/2025 – Eastman Chemical had its price target lowered by analysts at Piper Sandler from $105.00 to $102.00. They now have a “neutral” rating on the stock.
• 1/1/2025 – Eastman Chemical was downgraded by analysts at StockNews.com from a “buy” rating to a “hold” rating.
• 12/18/2024 – Eastman Chemical was downgraded by analysts at Citigroup Inc. from a “buy” rating to a “neutral” rating. They now have a $104.00 price target on the stock, down previously from $118.00.
• 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.

Eastman Chemical Stock Down 1.1 %

EMN traded down $1.03 during trading on Friday, hitting $92.10. 883,010 shares of the company’s stock were exchanged, compared to its average volume of 1,046,861. The company has a quick ratio of 0.78, a current ratio of 1.52 and a debt-to-equity ratio of 0.80. Eastman Chemical has a fifty-two week low of $80.71 and a fifty-two week high of $114.50. The stock has a market cap of $10.68 billion, a P/E ratio of 12.33, a PEG ratio of 0.67 and a beta of 1.44. The business’s 50 day moving average is $95.89 and its two-hundred day moving average is $100.15.

Eastman Chemical (NYSE:EMN) last announced 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. The company had revenue of $2.46 billion for the quarter, compared to analysts’ expectations of $2.38 billion. Eastman Chemical had a return on equity of 15.37% and a net margin of 9.47%. Eastman Chemical’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.47 earnings per share. As a group, equities analysts expect that Eastman Chemical will post 7.6 earnings per share for the current fiscal year.

Eastman Chemical Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 8th. Investors of record on Monday, December 16th were issued a $0.83 dividend. This is an increase from Eastman Chemical’s previous quarterly dividend of $0.81. This represents a $3.32 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Monday, December 16th. Eastman Chemical’s payout ratio is 44.44%.

Insider Activity at Eastman Chemical

In related news, EVP Stephen Glenn Crawford sold 10,504 shares of the business’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.00, for a total value of $1,102,920.00. Following the sale, the executive vice president now directly owns 47,287 shares in the company, valued at approximately $4,965,135. The trade was a 18.18 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Julie A. Mcalindon sold 4,456 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $105.84, for a total transaction of $471,623.04. Following the transaction, the senior vice president now owns 4,403 shares of the company’s stock, valued at $466,013.52. This represents a 50.30 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,021 shares of company stock worth $1,895,948. 1.93% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eastman Chemical

Hedge funds have recently made changes to their positions in the stock. Assenagon Asset Management S.A. boosted its stake in Eastman Chemical by 1,104.3% during the third quarter. Assenagon Asset Management S.A. now owns 933,984 shares of the basic materials company’s stock valued at $104,560,000 after buying an additional 856,432 shares during the period. Truist Financial Corp boosted its position in shares of Eastman Chemical by 201.5% during the 2nd quarter. Truist Financial Corp now owns 924,490 shares of the basic materials company’s stock valued at $90,572,000 after acquiring an additional 617,889 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in shares of Eastman Chemical by 57.2% during the third quarter. PNC Financial Services Group Inc. now owns 935,732 shares of the basic materials company’s stock worth $104,755,000 after purchasing an additional 340,562 shares in the last quarter. Franklin Resources Inc. increased its position in shares of 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 worth $593,233,000 after purchasing an additional 282,458 shares during the last quarter. Finally, National Bank of Canada FI lifted its position in Eastman Chemical by 492.9% during the third quarter. National Bank of Canada FI now owns 213,161 shares of the basic materials company’s stock valued at $23,863,000 after purchasing an additional 177,207 shares during the last quarter. 83.65% of the stock is currently owned by hedge funds and other institutional investors.

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.