Eastman Chemical (NYSE:EMN) Reaches New 12-Month Low – Should You Sell?

Shares of Eastman Chemical (NYSE:EMN) reached a new 52-week low during mid-day trading on Friday . The company traded as low as $86.59 and last traded at $86.81, with a volume of 205231 shares changing hands. The stock had previously closed at $88.92.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on EMN shares. Citigroup cut Eastman Chemical from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $118.00 to $104.00 in a report on Wednesday, December 18th. UBS Group decreased their price objective on shares of Eastman Chemical from $124.00 to $123.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Bank of America upgraded shares of Eastman Chemical from a “neutral” rating to a “buy” rating and dropped their target price for the company from $115.00 to $109.00 in a report on Tuesday, January 14th. Piper Sandler increased their price target on shares of Eastman Chemical from $102.00 to $105.00 and gave the company a “neutral” rating in a research report on Thursday, February 13th. Finally, KeyCorp lifted their price objective on Eastman Chemical from $121.00 to $128.00 and gave the stock an “overweight” rating in a research report on Monday, February 3rd. Six investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, Eastman Chemical currently has a consensus rating of “Moderate Buy” and an average price target of $114.08.

Eastman Chemical Trading Down 2.1 %

The company has a quick ratio of 0.78, a current ratio of 1.51 and a debt-to-equity ratio of 0.78. The business’s fifty day moving average is $95.78 and its 200-day moving average is $99.44. The stock has a market capitalization of $10.03 billion, a PE ratio of 11.34, a P/E/G ratio of 1.22 and a beta of 1.43.

Eastman Chemical (NYSE:EMN) last announced its quarterly earnings data on Thursday, January 30th. The basic materials company reported $1.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.27. Eastman Chemical had a net margin of 9.65% and a return on equity of 16.27%. As a group, analysts anticipate that Eastman Chemical will post 8.55 EPS for the current fiscal year.

Eastman Chemical Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 7th. Stockholders of record on Friday, March 14th will be paid a $0.83 dividend. This represents a $3.32 annualized dividend and a dividend yield of 3.81%. The ex-dividend date of this dividend is Friday, March 14th. Eastman Chemical’s dividend payout ratio is currently 43.23%.

Institutional Trading of Eastman Chemical

A number of institutional investors and hedge funds have recently bought and sold shares of EMN. Crews Bank & Trust purchased a new stake in Eastman Chemical during the fourth quarter worth approximately $27,000. Picton Mahoney Asset Management raised its stake in shares of 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 acquiring an additional 124 shares during the period. Assetmark Inc. lifted its holdings in shares of Eastman Chemical by 384.4% during the 4th quarter. Assetmark Inc. now owns 373 shares of the basic materials company’s stock valued at $34,000 after acquiring an additional 296 shares in the last quarter. Bradley & Co. Private Wealth Management LLC purchased a new stake in Eastman Chemical during the 4th quarter worth $35,000. Finally, Dunhill Financial LLC increased its holdings in Eastman Chemical by 94.7% in the 3rd quarter. Dunhill Financial LLC now owns 333 shares of the basic materials company’s stock valued at $37,000 after purchasing an additional 162 shares in the last quarter. Institutional investors and hedge funds own 83.65% of the company’s stock.

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.