Several other research firms have also recently weighed in on EMN. Barclays raised their target price on shares of Eastman Chemical from $128.00 to $130.00 and gave the company an “equal weight” rating in a research note on Monday, January 31st. KeyCorp cut their target price on shares of Eastman Chemical from $150.00 to $142.00 and set an “overweight” rating for the company in a research note on Tuesday, April 5th. Piper Sandler cut their target price on shares of Eastman Chemical from $126.00 to $118.00 and set a “neutral” rating for the company in a research note on Wednesday, March 9th. Morgan Stanley raised their target price on shares of Eastman Chemical from $142.00 to $165.00 and gave the company an “overweight” rating in a research note on Tuesday, January 11th. Finally, Bank of America cut shares of Eastman Chemical from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $150.00 to $124.00 in a research note on Tuesday, April 19th. Seven investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and an average price target of $130.31.
Shares of EMN stock opened at $105.13 on Thursday. The company has a market capitalization of $13.56 billion, a price-to-earnings ratio of 16.69, a PEG ratio of 1.30 and a beta of 1.47. Eastman Chemical has a one year low of $98.24 and a one year high of $130.47. The company’s fifty day moving average price is $110.71 and its 200-day moving average price is $113.91. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.56 and a quick ratio of 1.06.
In related news, SVP Christopher Moore Killian sold 14,738 shares of Eastman Chemical stock in a transaction dated Thursday, February 10th. The shares were sold at an average price of $122.75, for a total transaction of $1,809,089.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Mark K. Cox sold 4,858 shares of Eastman Chemical stock in a transaction dated Friday, February 25th. The shares were sold at an average price of $120.79, for a total transaction of $586,797.82. The disclosure for this sale can be found here. 1.93% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Confluence Wealth Services Inc. bought a new stake in Eastman Chemical during the 4th quarter valued at about $25,000. Penserra Capital Management LLC lifted its holdings in Eastman Chemical by 60.0% during the 3rd quarter. Penserra Capital Management LLC now owns 264 shares of the basic materials company’s stock valued at $26,000 after buying an additional 99 shares in the last quarter. David J Yvars Group bought a new stake in Eastman Chemical during the 4th quarter valued at about $30,000. Ulland Investment Advisors LLC bought a new stake in shares of Eastman Chemical in the 4th quarter valued at about $30,000. Finally, Farmers & Merchants Investments Inc. raised its holdings in shares of Eastman Chemical by 292.5% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 263 shares of the basic materials company’s stock valued at $32,000 after purchasing an additional 196 shares in the last quarter. Institutional investors own 82.59% of the company’s stock.
Eastman Chemical Company Profile (Get Rating)
Eastman Chemical Company operates as a specialty materials company in the United States and internationally. The company's Additives & Functional Products segment offers hydrocarbon and rosin resins; organic acid-based solutions; amine derivative-based building blocks; metam-based soil fumigants, thiram and ziram based fungicides, and plant growth regulators; specialty coalescent, specialty and commodity solvents, paint additives, and specialty polymers; heat transfer and aviation fluids; insoluble sulfur and anti-degradant rubber additives; and performance resins.
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