Eastman Chemical Company (NYSE:EMN) is included among the 11 High-Yield Dividend Stocks for Steady Cash Flow.
Eastman Chemical Company is a global specialty materials manufacturer that produces a wide variety of products used in everyday life.
On October 14, RBC Capital reduced its price target on Eastman Chemical Company from $74 to $71 while maintaining an Outperform rating. The revision came as part of a broader research note reviewing third-quarter expectations for chemical companies.
According to RBC, discussions with Investor Relations teams across the industry suggest that demand remained relatively soft during Q3. The firm noted that building and construction activity has been subdued, and although potential interest rate cuts could offer support, a weak labor market continues to weigh on new housing starts and existing home sales. In addition, demand for consumer durables has not shown significant improvement.
Despite near-term headwinds, Eastman Chemical Company remains attractive to income-focused investors, having increased its dividend for 15 consecutive years. The company offers a quarterly dividend of $0.83 per share and has a dividend yield of 5.34%, as of October 21.
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