Eastman Chemical Company (EMN) Now Covered by Tudor Pickering

Research analysts at Tudor Pickering assumed coverage on shares of Eastman Chemical Company (NYSE:EMN) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the basic materials company’s stock.

Several other research analysts have also recently commented on the company. J P Morgan Chase & Co boosted their target price on Eastman Chemical from $95.00 to $105.00 and gave the stock an “overweight” rating in a research note on Monday, October 30th. Royal Bank Of Canada reissued a “sector perform” rating and set a $93.00 target price (up from $91.00) on shares of Eastman Chemical in a research note on Monday, October 30th. Wells Fargo & Company reissued an “outperform” rating and set a $102.00 target price (up from $94.00) on shares of Eastman Chemical in a research note on Monday, October 30th. They noted that the move was a valuation call. KeyCorp reissued a “buy” rating and set a $108.00 target price (up from $100.00) on shares of Eastman Chemical in a research note on Monday, October 30th. Finally, UBS AG boosted their target price on Eastman Chemical from $97.00 to $103.00 and gave the stock a “buy” rating in a research note on Friday, October 27th. Ten research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $96.00.

Eastman Chemical (NYSE EMN) traded down $1.32 on Tuesday, reaching $90.11. The company had a trading volume of 227,632 shares, compared to its average volume of 1,157,998. Eastman Chemical has a 1 year low of $73.52 and a 1 year high of $94.96. The firm has a market cap of $13,043.90, a PE ratio of 12.08, a price-to-earnings-growth ratio of 1.55 and a beta of 1.31. The company has a debt-to-equity ratio of 1.24, a current ratio of 1.83 and a quick ratio of 0.94.

Eastman Chemical (NYSE:EMN) last released its earnings results on Thursday, October 26th. The basic materials company reported $2.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.03 by $0.16. Eastman Chemical had a return on equity of 22.77% and a net margin of 10.89%. The firm had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.35 billion. During the same period in the previous year, the firm posted $1.86 EPS. Eastman Chemical’s revenue for the quarter was up 7.8% on a year-over-year basis. equities research analysts anticipate that Eastman Chemical will post 7.13 EPS for the current year.

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In other news, SVP Perry Stuckey sold 5,200 shares of the business’s stock in a transaction dated Tuesday, October 31st. The stock was sold at an average price of $92.12, for a total value of $479,024.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Renee J. Hornbaker sold 4,000 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $84.43, for a total value of $337,720.00. Following the completion of the sale, the director now directly owns 21,858 shares of the company’s stock, valued at $1,845,470.94. The disclosure for this sale can be found here. 1.14% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its stake in Eastman Chemical by 6.3% during the 2nd quarter. BlackRock Inc. now owns 12,186,134 shares of the basic materials company’s stock valued at $1,023,514,000 after acquiring an additional 717,506 shares during the last quarter. LSV Asset Management raised its stake in Eastman Chemical by 4.2% during the 2nd quarter. LSV Asset Management now owns 3,973,068 shares of the basic materials company’s stock valued at $333,697,000 after acquiring an additional 160,101 shares during the last quarter. Ameriprise Financial Inc. raised its stake in Eastman Chemical by 8.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 2,930,981 shares of the basic materials company’s stock valued at $265,234,000 after acquiring an additional 223,382 shares during the last quarter. Dimensional Fund Advisors LP raised its stake in Eastman Chemical by 4.1% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,238,187 shares of the basic materials company’s stock valued at $202,526,000 after acquiring an additional 87,674 shares during the last quarter. Finally, Allianz Asset Management GmbH raised its stake in Eastman Chemical by 4.8% during the 3rd quarter. Allianz Asset Management GmbH now owns 1,422,975 shares of the basic materials company’s stock valued at $128,766,000 after acquiring an additional 64,652 shares during the last quarter. 83.32% of the stock is owned by hedge funds and other institutional investors.

Eastman Chemical Company Profile

Eastman Chemical Company (Eastman) is an advanced materials and specialty additives company. The Company’s segments include Additives & Functional Products (AFP), Advanced Materials (AM), Chemical Intermediates (CI), and Fibers. In the AFP segment, it manufactures chemicals for products in the coatings, tires, consumables, building and construction, industrial applications, including solar energy markets, animal nutrition, care chemicals, crop protection, and energy markets.

Analyst Recommendations for Eastman Chemical (NYSE:EMN)

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