Eastman Chemical Company (NYSE:EMN) was downgraded by SunTrust from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, The Fly reports. They currently have a $66.00 price target on the stock. SunTrust’s price objective would indicate a potential upside of 7.83% from the company’s previous close.

Other large investors have recently bought and sold shares of the company. RNC Capital Management increased its stake in Eastman Chemical Company by 13.4% in the fourth quarter. RNC Capital Management now owns 3,813 shares of the company’s stock worth $257,000 after buying an additional 450 shares during the period. Banced Corp increased its stake in Eastman Chemical Company by 18.4% in the fourth quarter. Banced Corp now owns 3,825 shares of the company’s stock worth $259,000 after buying an additional 595 shares during the period. W.G. Shaheen & Associates DBA Whitney & Co increased its stake in Eastman Chemical Company by 17.1% in the fourth quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 4,105 shares of the company’s stock worth $277,000 after buying an additional 600 shares during the period. Fisher Asset Management increased its stake in Eastman Chemical Company by 4.4% in the fourth quarter. Fisher Asset Management now owns 4,356 shares of the company’s stock worth $294,000 after buying an additional 185 shares during the period. Finally, Jaffetilchin Investment Partners LLC purchased a new stake in Eastman Chemical Company during the fourth quarter worth about $307,000.

A number of other research firms have also recently commented on EMN. Zacks Investment Research cut Eastman Chemical Company from a “hold” rating to a “sell” rating in a research report on Friday, January 8th. RBC Capital dropped their price target on Eastman Chemical Company from $86.00 to $72.00 and set an “outperform” rating for the company in a research report on Monday. Citigroup Inc. reiterated a “neutral” rating and set a $74.00 price target (down from $80.00) on shares of Eastman Chemical Company in a research report on Thursday, December 3rd. Barclays dropped their price target on Eastman Chemical Company from $90.00 to $86.00 and set a “hold” rating for the company in a research report on Tuesday, November 3rd. Finally, Deutsche Bank reiterated a “buy” rating and set a $90.00 price target (up from $85.00) on shares of Eastman Chemical Company in a research report on Thursday, December 3rd. Five analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company has an average rating of “Buy” and an average price target of $77.36.

Shares of Eastman Chemical Company (NYSE:EMN) traded down 0.90% on Monday, hitting $60.66. 606,814 shares of the company traded hands. The firm’s 50 day moving average price is $65.01 and its 200-day moving average price is $70.32. Eastman Chemical Company has a 1-year low of $56.03 and a 1-year high of $83.90. The stock has a market capitalization of $8.97 billion and a price-to-earnings ratio of 10.72.

Eastman Chemical Company (NYSE:EMN) last posted its quarterly earnings data on Thursday, October 29th. The company reported $1.84 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.84. The business earned $2.45 billion during the quarter, compared to analysts’ expectations of $2.58 billion. The firm’s quarterly revenue was up 1.4% compared to the same quarter last year. During the same quarter last year, the firm earned $1.89 earnings per share. On average, equities research analysts expect that Eastman Chemical Company will post $7.44 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, January 4th. Shareholders of record on Monday, December 14th were given a dividend of $0.46 per share. This is a positive change from Eastman Chemical Company’s previous quarterly dividend of $0.40. This represents a $1.84 dividend on an annualized basis and a yield of 3.01%. The ex-dividend date was Thursday, December 10th.

Eastman Chemical Company (NYSE:EMN) is a specialty chemicals company that produces a range of advanced materials, chemicals and fibers. The Company operates through five segments: Additives & Functional Products (AFP), Adhesives & Plasticizers (A&P), Advanced Materials (AM), Fibers, and Specialty Fluids & Intermediates (SFI). The Company manufactures chemicals for products in the coatings and tires industries in transportation, building and construction, durable goods, and consumables markets in the Additives & Functional Products segment. The Company’s A&P segment focuses on producing intermediate chemicals. The Company’s the AM segment produces and markets specialty copolyesters, cellulose esters, interlayers. In the Fibers segment, Eastman manufactures and sells Estron acetate tow and Estrobond triacetin plasticizers. The Company’s SFI segment offers products, such as acetyl chemical intermediates, olefin derivatives, specialty fluids, and alkylamines.

12 Month Chart for NYSE:EMN

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